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Mid-America Apartment Communities (Mid-America Apartment Communities) Earnings Yield (Joel Greenblatt) % : 3.53% (As of Dec. 2023)


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What is Mid-America Apartment Communities Earnings Yield (Joel Greenblatt) %?

Mid-America Apartment Communities's Enterprise Value for the quarter that ended in Dec. 2023 was $20,403 Mil. Mid-America Apartment Communities's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $720 Mil. Mid-America Apartment Communities's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 3.53%.

The historical rank and industry rank for Mid-America Apartment Communities's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:

MAA' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 1.31   Med: 2.91   Max: 4.8
Current: 3.67

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Mid-America Apartment Communities was 4.80%. The lowest was 1.31%. And the median was 2.91%.

MAA's Earnings Yield (Joel Greenblatt) % is ranked better than
58.95% of 894 companies
in the REITs industry
Industry Median: 2.81 vs MAA: 3.67

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Mid-America Apartment Communities's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 13.57%. The Forward Rate of Return uses the normalized Free Cash Flow of the past seven years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.


Mid-America Apartment Communities Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Mid-America Apartment Communities's Earnings Yield (Joel Greenblatt) % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Mid-America Apartment Communities Earnings Yield (Joel Greenblatt) % Chart

Mid-America Apartment Communities Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Earnings Yield (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.78 2.25 2.31 3.53 3.53

Mid-America Apartment Communities Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Earnings Yield (Joel Greenblatt) % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.53 3.76 3.45 3.87 3.53

Competitive Comparison of Mid-America Apartment Communities's Earnings Yield (Joel Greenblatt) %

For the REIT - Residential subindustry, Mid-America Apartment Communities's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Mid-America Apartment Communities's Earnings Yield (Joel Greenblatt) % Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Mid-America Apartment Communities's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Mid-America Apartment Communities's Earnings Yield (Joel Greenblatt) % falls into.



Mid-America Apartment Communities Earnings Yield (Joel Greenblatt) % Calculation

In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.

Mid-America Apartment Communitiess Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=720.079/20402.82324
=3.53 %

Mid-America Apartment Communities's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $720 Mil.



Mid-America Apartment Communities  (NYSE:MAA) Earnings Yield (Joel Greenblatt) % Explanation

Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.

Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.


Be Aware

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

Forward Rate of Return (Yacktman) % based on Don Yacktman's definition is a better measure of the expected rate of return for a stock.


Mid-America Apartment Communities Earnings Yield (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of Mid-America Apartment Communities's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


Mid-America Apartment Communities (Mid-America Apartment Communities) Business Description

Traded in Other Exchanges
Address
6815 Poplar Avenue, Suite 500, Germantown, TN, USA, 38138
Mid-America Apartment Communities Inc, or MAA, is a real estate investment trust engaged in the acquisition, operation, and development of multifamily apartment communities located in southeastern and southwestern United States. Company operates two reportable segments; Same Store includes communities that the Company has owned and have been stabilized for at least a full 12 months as of the first day of the calendar year and Non-Same Store and Other includes recently acquired communities, communities being developed or in lease-up, communities that have been disposed of or identified for disposition, communities that have experienced a significant casualty loss and stabilized communities that do not meet the requirements to be Same Store communities. Key revenue comes from the Same Store.
Executives
Bolton H Eric Jr director, officer: President and Chief Executive
Timothy Argo officer: EVP, Chief Strategy & Analysis 6815 POPLAR AVE, SUITE 500, GERMANTOWN TN 38138
Melanie Carpenter officer: EVP & CHRO 6815 POPLAR AVE, SUITE 500, GERMANTOWN TN 38138
Robert J. Delpriore officer: EVP, General Counsel 6584 POPLAR AVENUE, MEMPHIS TN 38138
William Reid Sanders director C/O TWO HARBORS INVESTMENT CORP., 1601 UTICA AVENUE SOUTH, SUITE 900, ST. LOUIS PARK MN 55416
Tamara D Fischer director 5200 DTC PARKWAY, SUITE 200, GREENWOOD VILLAGE CO 80111
John Case director 600 LA TERRAZA BOULEVARD, ESCONDIDO CA 92025
Deborah H Caplan director 700 UNIVERSE BLVD, JUNO BEACH FL 33408
Adrian Hill officer: EVP, Chief Investment Officer 6815 POPLAR AVE, SUITE 500, GERMANTOWN TN 38138
Campbell Albert M Iii officer: EVP-Director of Finance 6584 POPLAR AVE., STE. 300, MEMPHIS TN 38138
Monica Houle Mcgurk director C/O BUNGE LIMITED, 1391 TIMBERLAKE MANOR PARKWAY, CHESTERFIELD MO 63017
Grimes Thomas L Jr officer: EVP-Director of Property Mgm 6584 POPLAR AVE., STE. 300, MEMPHIS TN 38138
David P Stockert director 4401 NORTHSIDE PARKWAY, SUITE 800, ATLANTA GA 30327-3057
Green Edith Kelly director 3131 DEMOCRAT ROAD BLDG B206, MEMPHIS TN 38118
Russell R French director 9 NORTH PARKWAY SQUARE, 4200 NORTHSIDE PARKWAY, ATLANTA GA 30327