Mid-America Apartment Communities, Inc. Plans Quarterly Dividend of $1.06 (NYSE:MAA)

Mid-America Apartment Communities, Inc. (NYSE:MAAGet Rating) declared a quarterly dividend on Wednesday, June 1st, RTT News reports. Stockholders of record on Wednesday, June 15th will be given a dividend of 1.0625 per share by the real estate investment trust on Thursday, June 30th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 2.36%.

Mid-America Apartment Communities has increased its dividend by an average of 3.8% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Mid-America Apartment Communities has a payout ratio of 119.9% 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 $8.91 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 56.1%.

Shares of MAA traded down $1.23 during midday trading on Wednesday, reaching $179.77. The stock had a trading volume of 984,766 shares, compared to its average volume of 695,661. The company’s 50-day moving average is $196.02 and its 200 day moving average is $206.00. Mid-America Apartment Communities has a 12-month low of $163.08 and a 12-month high of $231.63. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $20.75 billion, a price-to-earnings ratio of 34.53, a price-to-earnings-growth ratio of 11.28 and a beta of 0.73.

Mid-America Apartment Communities (NYSE:MAAGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.13. Mid-America Apartment Communities had a return on equity of 9.77% and a net margin of 32.66%. During the same period in the previous year, the company posted $1.64 earnings per share. Research analysts forecast that Mid-America Apartment Communities will post 8.15 EPS for the current fiscal year.

MAA has been the subject of a number of research reports. Mizuho cut their price objective on Mid-America Apartment Communities from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Wednesday, February 16th. BTIG Research assumed coverage on Mid-America Apartment Communities in a report on Monday, May 9th. They set a “buy” rating and a $225.00 target price for the company. Piper Sandler dropped their target price on Mid-America Apartment Communities from $240.00 to $230.00 in a report on Wednesday, May 4th. StockNews.com assumed coverage on Mid-America Apartment Communities in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Scotiabank dropped their target price on Mid-America Apartment Communities from $231.00 to $226.00 in a report on Thursday, May 19th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $211.08.

In other Mid-America Apartment Communities news, COO Thomas L. Grimes, Jr. sold 20,000 shares of the stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $202.50, for a total value of $4,050,000.00. Following the completion of the sale, the chief operating officer now owns 44,983 shares in the company, valued at approximately $9,109,057.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.34% of the company’s stock.

Several large investors have recently made changes to their positions in the company. NEXT Financial Group Inc raised its position in shares of Mid-America Apartment Communities by 31.3% in the 4th quarter. NEXT Financial Group Inc now owns 306 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 73 shares in the last quarter. Horizon Investments LLC raised its position in shares of Mid-America Apartment Communities by 3.8% in the 1st quarter. Horizon Investments LLC now owns 2,813 shares of the real estate investment trust’s stock worth $586,000 after acquiring an additional 104 shares in the last quarter. MML Investors Services LLC raised its position in shares of Mid-America Apartment Communities by 2.5% in the 4th quarter. MML Investors Services LLC now owns 4,240 shares of the real estate investment trust’s stock worth $973,000 after acquiring an additional 105 shares in the last quarter. United Capital Financial Advisers LLC raised its position in shares of Mid-America Apartment Communities by 1.8% in the 1st quarter. United Capital Financial Advisers LLC now owns 8,327 shares of the real estate investment trust’s stock worth $1,744,000 after acquiring an additional 146 shares in the last quarter. Finally, Baird Financial Group Inc. raised its position in shares of Mid-America Apartment Communities by 3.2% in the 1st quarter. Baird Financial Group Inc. now owns 6,674 shares of the real estate investment trust’s stock worth $1,398,000 after acquiring an additional 206 shares in the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

About Mid-America Apartment Communities (Get Rating)

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.

Further Reading

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

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