Mid-America Apartment Communities, Inc. (NYSE:MAA) Announces Quarterly Dividend of $1.47

Mid-America Apartment Communities, Inc. (NYSE:MAA) declared a quarterly dividend on Tuesday, September 24th, Wall Street Journal reports. Shareholders of record on Tuesday, October 15th will be given a dividend of 1.47 per share by the real estate investment trust on Thursday, October 31st. This represents a $5.88 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Tuesday, October 15th.

Mid-America Apartment Communities has raised its dividend payment by an average of 11.9% per year over the last three years and has increased its dividend every year for the last 15 years. Mid-America Apartment Communities has a dividend payout ratio of 141.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Mid-America Apartment Communities to earn $9.05 per share next year, which means the company should continue to be able to cover its $5.88 annual dividend with an expected future payout ratio of 65.0%.

Mid-America Apartment Communities Price Performance

NYSE MAA opened at $153.41 on Monday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $17.92 billion, a P/E ratio of 32.16, a PEG ratio of 2.47 and a beta of 0.88. The company has a 50-day moving average price of $157.91 and a 200-day moving average price of $143.70. Mid-America Apartment Communities has a 52 week low of $115.56 and a 52 week high of $167.39.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MAA shares. The Goldman Sachs Group began coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 4th. They set a “buy” rating and a $187.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Truist Financial increased their target price on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Wedbush lifted their price target on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Scotiabank upped their price target on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $159.91.

Mid-America Apartment Communities Company Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.