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

Mid-America Apartment Communities, Inc. (NYSE:MAA) announced a quarterly dividend on Tuesday, March 18th, RTT News reports. Investors 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 annualized dividend and a yield of 3.75%. The ex-dividend date is Tuesday, April 15th.

Mid-America Apartment Communities has increased its dividend payment by an average of 12.6% per year over the last three years and has increased its dividend every year for the last 16 years. Mid-America Apartment Communities has a payout ratio of 140.0% 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 Stock Down 0.3 %

MAA stock opened at $161.76 on Thursday. The firm has a market cap of $18.91 billion, a PE ratio of 36.11, a P/E/G ratio of 3.72 and a beta of 0.90. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. The firm’s fifty day moving average is $157.68 and its 200 day moving average is $157.49. Mid-America Apartment Communities has a one year low of $123.73 and a one year high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) 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, research analysts forecast that Mid-America Apartment Communities will post 8.84 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MAA shares. Truist Financial raised their price target on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Royal Bank of Canada raised 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. Morgan Stanley raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $159.50 to $168.00 in a research note on Friday, January 24th. Wells Fargo & Company decreased their price target on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Finally, Barclays raised their price target on shares of Mid-America Apartment Communities from $152.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $168.43.

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.