Mid-America Apartment Communities Inc (NYSE:MAA) announced a quarterly dividend on Tuesday, May 21st, RTT News reports. Investors of record on Monday, July 15th will be given a dividend of 0.96 per share by the real estate investment trust on Wednesday, July 31st. This represents a $3.84 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Friday, July 12th.
Mid-America Apartment Communities has raised its dividend by an average of 6.2% annually over the last three years and has raised its dividend every year for the last 8 years. Mid-America Apartment Communities has a dividend payout ratio of 63.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Mid-America Apartment Communities to earn $6.39 per share next year, which means the company should continue to be able to cover its $3.84 annual dividend with an expected future payout ratio of 60.1%.
Mid-America Apartment Communities stock opened at $123.56 on Thursday. Mid-America Apartment Communities has a 1 year low of $91.21 and a 1 year high of $123.88. The firm has a 50 day moving average of $117.49. The stock has a market capitalization of $13.82 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 4.99 and a beta of 0.40. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.72.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.95). Mid-America Apartment Communities had a return on equity of 3.68% and a net margin of 14.86%. The business had revenue of $401.17 million for the quarter, compared to analysts’ expectations of $400.91 million. During the same quarter in the prior year, the firm earned $1.36 earnings per share. Mid-America Apartment Communities’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, analysts anticipate that Mid-America Apartment Communities will post 6.23 EPS for the current fiscal year.
In other news, Director Claude B. Nielsen sold 6,500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $109.83, for a total transaction of $713,895.00. Following the completion of the transaction, the director now owns 12,117 shares in the company, valued at $1,330,810.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.
Several research firms have issued reports on MAA. Scotiabank downgraded shares of Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and decreased their price objective for the stock from $114.00 to $107.00 in a research note on Tuesday. SunTrust Banks boosted their price objective on shares of Mid-America Apartment Communities to $120.00 and gave the stock a “positive” rating in a research note on Wednesday, June 19th. They noted that the move was a valuation call. Raymond James reiterated a “buy” rating on shares of Teck Resources in a research note on Thursday, April 4th. BMO Capital Markets reiterated a “hold” rating and set a $54.00 price objective on shares of Apartment Investment and Management in a research note on Monday, March 25th. Finally, KeyCorp reissued an “overweight” rating and set a $125.00 target price (up from $112.00) on shares of Mid-America Apartment Communities in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $112.18.
About Mid-America Apartment Communities
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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