Mid-America Apartment Communities Inc (MAA) Plans Quarterly Dividend of $0.96

Mid-America Apartment Communities Inc (NYSE:MAA) declared a quarterly dividend on Tuesday, December 4th, RTT News reports. Shareholders of record on Tuesday, January 15th will be paid a dividend of 0.96 per share by the real estate investment trust on Thursday, January 31st. This represents a $3.84 annualized dividend and a yield of 3.80%. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $0.92.

Mid-America Apartment Communities has raised its dividend by an average of 6.0% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Mid-America Apartment Communities has a payout ratio of 61.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Mid-America Apartment Communities to earn $6.30 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 58.6%.

NYSE:MAA traded down $2.39 during trading hours on Wednesday, hitting $101.00. 1,060,108 shares of the stock traded hands, compared to its average volume of 534,922. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.17 and a quick ratio of 0.17. Mid-America Apartment Communities has a 1 year low of $85.16 and a 1 year high of $104.98. The company has a market capitalization of $11.79 billion, a P/E ratio of 17.00, a P/E/G ratio of 2.44 and a beta of 0.31.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($1.04). The company had revenue of $397.10 million for the quarter, compared to the consensus estimate of $393.76 million. Mid-America Apartment Communities had a net margin of 18.20% and a return on equity of 4.36%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.50 EPS. On average, sell-side analysts anticipate that Mid-America Apartment Communities will post 6.05 earnings per share for the current fiscal year.

Several equities research analysts have recently issued reports on MAA shares. Barclays reiterated a “buy” rating and set a $110.00 price objective on shares of Mid-America Apartment Communities in a research report on Sunday, October 14th. Capital One Financial started coverage on shares of Mid-America Apartment Communities in a research report on Monday, October 22nd. They set an “equal weight” rating and a $101.50 price objective on the stock. Robert W. Baird reiterated a “buy” rating and set a $105.00 price objective on shares of Mid-America Apartment Communities in a research report on Thursday, August 16th. Scotiabank started coverage on shares of Mid-America Apartment Communities in a research report on Tuesday, October 16th. They set a “sector perform” rating on the stock. Finally, Citigroup set a $105.00 price objective on shares of Mid-America Apartment Communities and gave the company a “hold” rating in a research report on Monday, November 5th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $102.59.

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Mid-America Apartment Communities Company Profile

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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Dividend History for Mid-America Apartment Communities (NYSE:MAA)

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