Mid-America Apartment Communities Inc (NYSE:MAA) declared a quarterly dividend on Tuesday, December 5th, RTT News reports. Stockholders of record on Friday, January 12th will be given a dividend of 0.9225 per share by the real estate investment trust on Wednesday, January 31st. This represents a $3.69 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Thursday, January 11th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $0.87.
Mid-America Apartment Communities has raised its dividend payment by an average of 6.0% annually over the last three years and has increased its dividend every year for the last 7 years. Mid-America Apartment Communities has a payout ratio of 62.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Mid-America Apartment Communities to earn $6.18 per share next year, which means the company should continue to be able to cover its $3.69 annual dividend with an expected future payout ratio of 59.7%.
Mid-America Apartment Communities (MAA) opened at $91.32 on Friday. Mid-America Apartment Communities has a one year low of $90.88 and a one year high of $110.95. The company has a market cap of $10,380.00, a PE ratio of 41.14, a PEG ratio of 2.13 and a beta of 0.34.
Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.61. The business had revenue of $384.60 million during the quarter, compared to the consensus estimate of $386.96 million. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. Mid-America Apartment Communities’s revenue was up 38.9% on a year-over-year basis. During the same period last year, the business posted $1.47 EPS. equities research analysts forecast that Mid-America Apartment Communities will post 5.92 EPS for the current year.
In related news, Director William Reid Sanders bought 7,000 shares of the business’s stock in a transaction on Friday, October 27th. The shares were purchased at an average price of $100.11 per share, for a total transaction of $700,770.00. Following the completion of the transaction, the director now directly owns 8,209 shares of the company’s stock, valued at approximately $821,802.99. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders acquired 7,116 shares of company stock worth $710,687 in the last 90 days. Company insiders own 1.25% of the company’s stock.
Several research analysts have weighed in on the stock. Zacks Investment Research cut shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Friday. ValuEngine cut shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. JMP Securities cut shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a report on Thursday, October 19th. BMO Capital Markets cut shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating and set a $107.00 target price on the stock. in a report on Monday, November 27th. Finally, Mizuho reaffirmed a “hold” rating and set a $110.00 target price on shares of Mid-America Apartment Communities in a report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $110.50.
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Mid-America Apartment Communities Company Profile
Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.
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