Last $73.05 USD
Change Today -0.04 / -0.05%
Volume 591.4K
MAA On Other Exchanges
Symbol
Exchange
Frankfurt
As of 6:40 PM 07/10/14 All times are local (Market data is delayed by at least 15 minutes).

mid-america apartment comm (MAA) Snapshot

Open
$72.36
Previous Close
$73.09
Day High
$73.28
Day Low
$72.36
52 Week High
06/6/14 - $73.49
52 Week Low
12/19/13 - $59.23
Market Cap
5.5B
Average Volume 10 Days
421.2K
EPS TTM
$1.32
Shares Outstanding
75.0M
EX-Date
07/11/14
P/E TM
55.5x
Dividend
$2.92
Dividend Yield
3.90%
Current Stock Chart for MID-AMERICA APARTMENT COMM (MAA)

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mid-america apartment comm (MAA) Details

Mid-America Apartment Communities, Inc. is an independent real estate investment trust. The firm invests in the real estate markets of the United States. It is engaged in acquisition, redevelopment, new development, property management, and disposition of multifamily apartment communities. Mid-America Apartment Communities, Inc. was founded in 1977 and is based in Memphis, Tennessee.

2,151 Employees
Last Reported Date: 06/17/14
Founded in 1977

mid-america apartment comm (MAA) Top Compensated Officers

Chairman, Chief Executive Officer, President ...
Total Annual Compensation: $524.4K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $324.7K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $324.5K
General Counsel and Executive Vice President
Total Annual Compensation: $188.0K
Compensation as of Fiscal Year 2013.

mid-america apartment comm (MAA) Key Developments

Mid-America Apartment Communities Seeks Acquisitions

Eric Bolton, Chairman and Chief Executive Officer of Mid-America Apartment Communities Inc. (NYSE:MAA), said, "We like apartments. That’s all we are going to do. We have looked at some of those other areas that you mentioned and really concluded quickly that it’s a different business model. And I think that capital can diversify themselves. We continue to believe that as supply comes into the markets, there are portfolios of apartment assets, there are developers who are sitting on portfolios of apartment assets, and we’re confident that we’ll see ample opportunity to deploy capital focused on doing what we know how to do which is strictly market-rate apartments and continue to feel that that’s where the focus ought to be."

MAA Approves Quarterly Common Dividend, Payable on July 31, 2014

MAA announced that its board of directors approved a quarterly common dividend of $0.73 per share payable on July 31, 2014 to shareholders of record on July 15, 2014.

Mid-America Apartment Communities Inc. Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Second, Third and Fourth Quarters and Full Year of 2014

Mid-America Apartment Communities Inc. announced consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, funds from operations, or FFO, was $97.4 million or $1.23 per diluted share compared to $55.2 million, or $1.25 per diluted share for the quarter ended March 31, 2013. Core FFO was $95.6 million or $1.21 per diluted share compared to $55.2 million or $1.25 per diluted share for the quarter ended March 31, 2013. The company recorded net income available to common shareholders of $14.9 million or $0.20 per diluted common share compared to $21.2 million or $0.50 per diluted common share for the same period in 2013. Recurring capital expenditures for the combined portfolio totaled $6.1 million for the first quarter of 2014, or approximately $0.08 per diluted share compared to $5.6 million reported a year ago. Total operating revenues were $243.487 million compared to $127.920 million reported a year ago. Income from continuing operations before non-operating items was $38.829 million compared to $36.847 million reported a year ago. Income before income tax expense was $6.,992 million compared to $20.392 million reported a year ago. Income from continuing operations was $6.698 million or $0.12 per diluted share compared to $20.223 million or $0.46 per diluted share reported a year ago. Core adjusted funds from operations was $89.54 million or $1.13 per diluted share compared to $49.57 million or $1.12 per diluted share reported a year ago. Recurring EBITDA was $135.36 million compared to $72.17 million reported a year ago. First quarter performance was better than it expected with favorable operating results and lower general and administrative costs driving core funds from operations above the mid-point of its guidance range. Based on the company's performance in the first quarter and revised expectations for both apartment operations and transaction activity over the remainder of the year, the company is updating its earnings guidance for 2014. The company believes an increase in the full-year 2014 core FFO per share to a range of $4.84 to $5.04 is appropriate. The company expects recurring capital expenditures of approximately $60 million for 2014, producing AFFO per share in the range of $4.09 to $4.29 for the full year. Consistent with earlier guidance, the company continues to expect NOI growth for the Proforma Combined Same Store portfolio for the full year in the range of 4% to 5%, based on revenue growth of 3.5% to 4.5% and expense growth of 3% to 4%. Core FFO per share is expected to be in the range of $1.15 to $1.27 for the second quarter, $1.19 to $1.31 for the third quarter, and $1.21 to $1.33 for the fourth quarter.

 

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Industry Analysis

MAA

Industry Average

Valuation MAA Industry Range
Price/Earnings 100.0x
Price/Sales 7.3x
Price/Book 1.9x
Price/Cash Flow 15.5x
TEV/Sales 2.3x
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