Mid-America Apartment Communities, Inc. to Issue Quarterly Dividend of $1.52 (NYSE:MAA)

Mid-America Apartment Communities, Inc. (NYSE:MAA - Get Free Report) declared a quarterly dividend on Tuesday, March 18th, RTT News reports. Shareholders of record on Tuesday, April 15th will be given a dividend of 1.515 per share by the real estate investment trust on Wednesday, April 30th. This represents a $6.06 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Tuesday, April 15th.

Mid-America Apartment Communities has raised its dividend payment by an average of 12.6% annually over the last three years and has increased its dividend every year for the last 16 years. Mid-America Apartment Communities has a dividend payout ratio of 143.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Mid-America Apartment Communities to earn $9.22 per share next year, which means the company should continue to be able to cover its $6.06 annual dividend with an expected future payout ratio of 65.7%.

Mid-America Apartment Communities Trading Down 0.9 %

Shares of NYSE MAA traded down $1.38 on Friday, reaching $161.19. 1,539,118 shares of the company traded hands, compared to its average volume of 668,247. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $18.84 billion, a PE ratio of 35.98, a P/E/G ratio of 3.72 and a beta of 0.90. Mid-America Apartment Communities has a fifty-two week low of $123.73 and a fifty-two week high of $173.38. The company has a 50 day moving average of $158.21 and a 200 day moving average of $157.52.

Remove Ads

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, beating the consensus estimate of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. On average, equities research analysts forecast that Mid-America Apartment Communities will post 8.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MAA has been the subject of a number of recent analyst reports. Morgan Stanley raised Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $159.50 to $168.00 in a report on Friday, January 24th. BMO Capital Markets lowered their target price on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a "market perform" rating on the stock in a research note on Tuesday, January 21st. Royal Bank of Canada upped their price target on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a "sector perform" rating in a research note on Friday, February 7th. KeyCorp upgraded shares of Mid-America Apartment Communities from a "sector weight" rating to an "overweight" rating and set a $180.00 price objective on the stock in a research note on Tuesday, December 17th. Finally, Raymond James increased their price target on Mid-America Apartment Communities from $180.00 to $185.00 and gave the company a "strong-buy" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Mid-America Apartment Communities has a consensus rating of "Moderate Buy" and a consensus price target of $168.90.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.