Mid-America Apartment Communities Inc (MAA) Announces $0.87 Quarterly Dividend
Mid-America Apartment Communities Inc (NYSE:MAA) declared a quarterly dividend on Tuesday, May 23rd. Shareholders of record on Friday, July 14th will be given a dividend of 0.87 per share by the real estate investment trust on Monday, July 31st. This represents a $3.48 annualized dividend and a yield of 3.48%.
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 dividend payout ratio of 59.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Mid-America Apartment Communities to earn $1.88 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 185.1%.
Mid-America Apartment Communities (NYSE:MAA) traded up 0.05% on Tuesday, reaching $100.11. The company’s stock had a trading volume of 336,181 shares. Mid-America Apartment Communities has a 12 month low of $85.04 and a 12 month high of $110.01. The firm’s 50 day moving average is $100.48 and its 200-day moving average is $97.59. The firm has a market cap of $11.37 billion, a P/E ratio of 42.42 and a beta of 0.29.
Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, April 26th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.02. Mid-America Apartment Communities had a net margin of 18.83% and a return on equity of 6.14%. The firm had revenue of $375.91 million for the quarter, compared to analyst estimates of $358.74 million. During the same quarter last year, the business posted $1.50 earnings per share. The company’s quarterly revenue was up 39.7% on a year-over-year basis. On average, equities research analysts anticipate that Mid-America Apartment Communities will post $1.52 EPS for the current year.
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In other Mid-America Apartment Communities news, Director Gary Shorb purchased 500 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were bought at an average price of $98.90 per share, for a total transaction of $49,450.00. Following the completion of the acquisition, the director now owns 4,250 shares in the company, valued at $420,325. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David P. Stockert sold 9,033 shares of Mid-America Apartment Communities stock in a transaction on Monday, March 6th. The stock was sold at an average price of $101.00, for a total transaction of $912,333.00. Following the transaction, the director now owns 82,528 shares in the company, valued at approximately $8,335,328. The disclosure for this sale can be found here. 1.66% of the stock is currently owned by insiders.
MAA has been the topic of a number of research analyst reports. Jefferies Group LLC raised their target price on shares of Mid-America Apartment Communities from $109.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, March 30th. Royal Bank of Canada restated a “buy” rating on shares of Mid-America Apartment Communities in a research report on Thursday, April 27th. BMO Capital Markets restated a “buy” rating and issued a $105.00 target price on shares of Mid-America Apartment Communities in a research report on Friday, February 17th. Zacks Investment Research upgraded 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 restated an “overweight” rating and issued a $117.00 target price (up previously from $116.00) on shares of Mid-America Apartment Communities in a research report on Wednesday, April 19th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price 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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