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

Mid-America Apartment Communities, Inc. (NYSE:MAA) 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 annualized dividend and a dividend yield of 3.74%.

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 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 1.5 %

Shares of NYSE:MAA traded down $2.42 during trading on Tuesday, hitting $162.07. 626,600 shares of the company were exchanged, compared to its average volume of 664,903. The stock has a market cap of $18.95 billion, a price-to-earnings ratio of 36.18, 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 firm has a fifty day moving average price of $157.15 and a two-hundred day moving average price of $157.46. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, topping the consensus estimate of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. As a group, research analysts anticipate that Mid-America Apartment Communities will post 8.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MAA has been the subject of several recent research reports. Truist Financial boosted their price target on Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a “buy” rating in a research note on Monday, March 10th. JMP Securities restated a “market outperform” rating and issued a $160.00 price target on shares of Mid-America Apartment Communities in a research note on Tuesday, February 11th. Scotiabank upgraded Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $173.00 to $182.00 in a research note on Friday, February 14th. StockNews.com upgraded Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Jefferies Financial Group upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and boosted their price target for the company from $148.00 to $190.00 in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently 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.