Mid-America Apartment Communities Inc (NYSE:MAA) announced a quarterly dividend on Thursday, September 26th, Zacks reports. Stockholders of record on Tuesday, October 15th will be given a dividend of 0.96 per share by the real estate investment trust on Thursday, October 31st. This represents a $3.84 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Friday, October 11th.
Mid-America Apartment Communities has increased its dividend payment by an average of 6.2% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Mid-America Apartment Communities has a dividend payout ratio of 63.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Mid-America Apartment Communities to earn $6.49 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 59.2%.
Mid-America Apartment Communities stock traded up $0.41 during mid-day trading on Wednesday, hitting $133.06. 2,686 shares of the company’s stock were exchanged, compared to its average volume of 524,668. The firm has a market capitalization of $15.10 billion, a P/E ratio of 22.04, a PEG ratio of 5.39 and a beta of 0.33. Mid-America Apartment Communities has a fifty-two week low of $91.21 and a fifty-two week high of $133.76. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.72. The company’s 50 day simple moving average is $128.46 and its 200-day simple moving average is $118.50.
A number of brokerages have recently issued reports on MAA. ValuEngine cut Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Capital One Financial restated an “equal weight” rating on shares of Mid-America Apartment Communities in a report on Monday, September 16th. SunTrust Banks boosted their price objective on Mid-America Apartment Communities to $130.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Scotiabank cut Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and reduced their price objective for the stock from $114.00 to $107.00 in a report on Tuesday, July 9th. Finally, KeyCorp boosted their price objective on Mid-America Apartment Communities from $131.00 to $138.00 and gave the stock an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $117.63.
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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