Mid-America Apartment Communities Inc (MAA) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $1.50 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $1.44. The company posted revenue of $269.01 million in the period, compared to analysts expectations of $265.13 million. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 EPS.
Many Wall Street Analysts have commented on Mid-America Apartment Communities Inc. Mid-America Apartment Communities Inc was Downgraded by Jefferies to ” Hold” on Apr 22, 2016. Mid-America Apartment Communities Inc was Downgraded by Mizuho to ” Neutral” on Mar 21, 2016. DA Davidson Downgraded Mid-America Apartment Communities Inc on Mar 11, 2016 to ” Neutral”, Price Target of the shares are set at $97.
Mid-America Apartment Communities Inc opened for trading at $95.77 and hit $97.63 on the upside on Monday, eventually ending the session at $97.41, with a gain of 1.78% or 1.7 points. The heightened volatility saw the trading volume jump to 2,94,467 shares. Company has a market cap of $7,348 M.
In a different news, on Jan 5, 2016, H Eric Jr Bolton (President and CEO) purchased 70 shares at $70.63 per share price. According to the SEC, on Sep 4, 2015, Robert J. Delpriore (EVP, General Counsel) sold 1,040 shares at $77.67 per share price. On Jun 11, 2015, Gary Shorb (director) purchased 700 shares at $73.85 per share price, according to the Form-4 filing with the securities and exchange commission.
Mid-America Apartment Communities Inc. is a multifamily focused self-administered and self-managed Real Estate Investment Trust (REIT). The Company is the general partner of Mid-America Apartments L.P. The Company owns operates acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. The Companys segments include large market same store communities secondary market same store communities and non-same store communities and other. As of December 31 2014 the Companys activities include full or partial ownership and operation of 268 multi-family properties and three commercial properties located in Alabama Arizona Arkansas Florida Georgia Kentucky Louisiana Mississippi Missouri Nevada North Carolina South Carolina Tennessee Texas and Virginia.