Mid-America Apartment Communities Beats Up on Analysts Yet Again

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Mid-America Apartment Communities (NYS: MAA) reported earnings on Feb. 2. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Mid-America Apartment Communities met expectations on revenue and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue expanded and GAAP earnings per share expanded significantly.

Margins improved across the board.

Revenue details
Mid-America Apartment Communities booked revenue of $117.3 million. The nine analysts polled by S&P Capital IQ hoped for revenue of $116.9 million. Sales were 13% higher than the prior-year quarter's $104.3 million.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.

EPS details
Non-GAAP EPS came in at $0.53. The four earnings estimates compiled by S&P Capital IQ predicted $0.34 per share on the same basis. GAAP EPS of $0.49 for Q4 were 145% higher than the prior-year quarter's $0.20 per share.

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Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 53.9%, 190 basis points better than the prior-year quarter. Operating margin was 24.0%, 180 basis points better than the prior-year quarter. Net margin was 16.0%, 930 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $118.7 million. On the bottom line, the average EPS estimate is $0.33.

Next year's average estimate for revenue is $491.0 million. The average EPS estimate is $1.21.

Investor sentiment
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 48 members out of 75 rating the stock outperform, and 27 members rating it underperform. Among 29 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 16 give Mid-America Apartment Communities a green thumbs-up, and 13 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Mid-America Apartment Communities is outperform, with an average price target of $70.36.

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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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