Mid-America Apartment Communities, Inc. (MAA) Declares Quarterly Dividend of $0.92
Mid-America Apartment Communities, Inc. (NYSE:MAA) announced a quarterly dividend on Tuesday, December 5th, RTT News reports. Stockholders of record on Friday, January 12th will be given a dividend of 0.9225 per share by the real estate investment trust on Wednesday, January 31st. This represents a $3.69 dividend on an annualized basis and a dividend yield of 3.64%. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $0.87.
Mid-America Apartment Communities has increased its dividend payment by an average of 16.3% per year over the last three years and has increased its dividend every year for the last 6 years. Mid-America Apartment Communities has a payout ratio of 58.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Mid-America Apartment Communities to earn $6.25 per share next year, which means the company should continue to be able to cover its $3.48 annual dividend with an expected future payout ratio of 55.7%.
Mid-America Apartment Communities (MAA) traded down $1.11 during midday trading on Tuesday, hitting $101.41. 628,191 shares of the stock were exchanged, compared to its average volume of 675,604. Mid-America Apartment Communities has a 52 week low of $87.96 and a 52 week high of $110.95. The firm has a market capitalization of $11,685.40, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 2.48 and a beta of 0.34.
In other news, Director David P. Stockert sold 6,872 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $106.34, for a total transaction of $730,768.48. Following the completion of the transaction, the director now directly owns 77,180 shares in the company, valued at $8,207,321.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Reid Sanders purchased 7,000 shares of the stock in a transaction dated Friday, October 27th. The shares were bought at an average price of $100.11 per share, with a total value of $700,770.00. Following the completion of the acquisition, the director now directly owns 8,209 shares of the company’s stock, valued at approximately $821,802.99. The disclosure for this purchase can be found here. 1.25% of the stock is owned by insiders.
A number of research firms have recently weighed in on MAA. Mizuho reiterated a “hold” rating and issued a $106.00 price target on shares of Mid-America Apartment Communities in a research report on Sunday, October 15th. Jefferies Group reiterated a “buy” rating and issued a $120.00 price target on shares of Mid-America Apartment Communities in a research report on Sunday, September 10th. ValuEngine upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. BidaskClub upgraded shares of Mid-America Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Finally, BTIG Research upgraded shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $116.00 price target for the company in a research report on Friday, September 8th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $110.50.
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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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