Mid-America Apartment Communities Inc (NYSE:MAA) announced a quarterly dividend on Tuesday, December 5th, RTT News reports. Shareholders of record on Friday, January 12th will be given a dividend of 0.9225 per share by the real estate investment trust on Wednesday, January 31st. This represents a $3.69 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Thursday, January 11th. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $0.87.
Mid-America Apartment Communities has increased its dividend by an average of 6.0% per year over the last three years and has increased its dividend every year for the last 7 years. Mid-America Apartment Communities has a payout ratio of 62.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Mid-America Apartment Communities to earn $6.15 per share next year, which means the company should continue to be able to cover its $3.69 annual dividend with an expected future payout ratio of 60.0%.
Shares of Mid-America Apartment Communities (NYSE:MAA) traded down $3.62 on Thursday, hitting $91.75. The company had a trading volume of 1,467,307 shares, compared to its average volume of 779,064. Mid-America Apartment Communities has a one year low of $90.88 and a one year high of $110.95. The company has a market capitalization of $10,562.77, a price-to-earnings ratio of 41.33, a P/E/G ratio of 2.16 and a beta of 0.34.
Several analysts recently commented on MAA shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Mid-America Apartment Communities in a report on Friday, November 3rd. Stifel Nicolaus cut their price objective on Mid-America Apartment Communities from $113.00 to $100.00 and set a “hold” rating for the company in a report on Friday, October 27th. Mizuho reiterated a “hold” rating and set a $110.00 target price on shares of Mid-America Apartment Communities in a research report on Monday, November 6th. Zacks Investment Research downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Friday, January 12th. Finally, SunTrust Banks reiterated a “buy” rating and set a $109.00 target price on shares of Mid-America Apartment Communities in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Mid-America Apartment Communities presently has a consensus rating of “Buy” and a consensus price target of $109.62.
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About Mid-America Apartment Communities
Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.
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