Mid-America Apartment Communities Inc (NYSE:MAA) Declares Quarterly Dividend of $0.96

Mid-America Apartment Communities Inc (NYSE:MAA) announced a quarterly dividend on Thursday, September 26th, Zacks reports. Investors of record on Tuesday, October 15th will be paid a dividend of 0.96 per share by the real estate investment trust on Thursday, October 31st. This represents a $3.84 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Friday, October 11th.

Mid-America Apartment Communities has increased its dividend payment by an average of 6.2% annually over the last three years and has raised its dividend every year for the last 8 years. Mid-America Apartment Communities has a payout ratio of 63.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Mid-America Apartment Communities to earn $6.49 per share next year, which means the company should continue to be able to cover its $3.84 annual dividend with an expected future payout ratio of 59.2%.

Shares of NYSE MAA opened at $134.03 on Wednesday. The business’s 50 day moving average price is $128.46 and its 200 day moving average price is $118.50. The firm has a market cap of $15.10 billion, a P/E ratio of 22.19, a P/E/G ratio of 5.39 and a beta of 0.33. Mid-America Apartment Communities has a 52 week low of $91.21 and a 52 week high of $133.76. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.72.

A number of brokerages recently commented on MAA. KeyCorp upped their target price on Mid-America Apartment Communities from $131.00 to $138.00 and gave the company an “overweight” rating in a research report on Tuesday. SunTrust Banks upped their price objective on Mid-America Apartment Communities to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Scotiabank lowered Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and lowered their price objective for the stock from $114.00 to $107.00 in a research report on Tuesday, July 9th. Capital One Financial restated an “equal weight” rating on shares of Mid-America Apartment Communities in a research report on Monday, September 16th. Finally, Barclays upped their price objective on Mid-America Apartment Communities from $127.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $117.63.

In other Mid-America Apartment Communities news, Director David P. Stockert sold 2,047 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $120.84, for a total value of $247,359.48. Following the sale, the director now owns 65,240 shares in the company, valued at approximately $7,883,601.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

About Mid-America Apartment Communities

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.

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

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