Mid-America Apartment Communities Inc Declares Quarterly Dividend of $0.87 (MAA)
Mid-America Apartment Communities Inc (NYSE:MAA) declared a quarterly dividend on Thursday, March 23rd. Shareholders of record on Friday, April 14th will be paid a dividend of 0.87 per share by the real estate investment trust on Friday, April 28th. This represents a $3.48 annualized dividend and a yield of 3.43%. The ex-dividend date is Tuesday, April 11th.
Mid-America Apartment Communities has raised its dividend payment by an average of 16.3% annually over the last three years and has increased its dividend every year for the last 6 years. Mid-America Apartment Communities has a payout ratio of 59.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Mid-America Apartment Communities to earn $2.71 per share next year, which means the company may not be able to cover its $3.48 annual dividend with an expected future payout ratio of 128.4%.
Mid-America Apartment Communities (NYSE:MAA) traded up 0.17% during mid-day trading on Thursday, hitting $101.56. The stock had a trading volume of 511,663 shares. The stock has a market cap of $11.53 billion, a PE ratio of 37.77 and a beta of 0.29. Mid-America Apartment Communities has a one year low of $85.04 and a one year high of $110.01. The firm’s 50-day moving average is $101.20 and its 200 day moving average is $96.02.
Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, February 1st. The real estate investment trust reported $1.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.01. Mid-America Apartment Communities had a net margin of 18.83% and a return on equity of 6.14%. The business earned $307.20 million during the quarter, compared to analysts’ expectations of $302.58 million. During the same quarter in the prior year, the company posted $1.45 earnings per share. The firm’s revenue was up 16.7% on a year-over-year basis. Equities research analysts expect that Mid-America Apartment Communities will post $2.29 EPS for the current year.
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In other Mid-America Apartment Communities news, Director David P. Stockert sold 9,033 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $101.00, for a total transaction of $912,333.00. Following the sale, the director now directly owns 82,528 shares in the company, valued at $8,335,328. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.66% of the company’s stock.
Several analysts have issued reports on MAA shares. Jefferies Group LLC upped their price target on shares of Mid-America Apartment Communities from $109.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, March 30th. BMO Capital Markets reaffirmed a “buy” rating and set a $105.00 price target on shares of Mid-America Apartment Communities in a research report on Friday, February 17th. Zacks Investment Research raised shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research report on Tuesday, February 14th. Finally, Barclays PLC reissued an “overweight” rating and issued a $117.00 price objective (up from $116.00) on shares of Mid-America Apartment Communities in a research report on Wednesday. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $108.00.
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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