Mid-America Apartment Communities, Inc. (NYSE:MAA) announced a quarterly dividend on Tuesday, December 5th, RTT News reports. Investors 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 annualized dividend and a yield of 3.64%. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $0.87.
Mid-America Apartment Communities has raised its dividend by an average of 16.3% annually over the last three years and has increased its dividend every year for the last 6 years. Mid-America Apartment Communities has a payout ratio of 58.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Mid-America Apartment Communities to earn $6.25 per share next year, which means the company should continue to be able to cover its $3.48 annual dividend with an expected future payout ratio of 55.7%.
Mid-America Apartment Communities (NYSE:MAA) traded down $1.11 on Wednesday, reaching $101.41. 628,100 shares of the company traded hands, compared to its average volume of 675,603. Mid-America Apartment Communities has a 1-year low of $87.96 and a 1-year high of $110.95. The company has a market capitalization of $11,649.04, a PE ratio of 17.26, a price-to-earnings-growth ratio of 2.48 and a beta of 0.34.
MAA has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $110.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, November 3rd. SunTrust Banks reissued a “buy” rating and set a $109.00 target price on shares of Mid-America Apartment Communities in a research note on Friday, November 3rd. Jefferies Group reissued a “buy” rating and set a $120.00 target price on shares of Mid-America Apartment Communities in a research note on Sunday, September 10th. ValuEngine raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Finally, BTIG Research raised Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $116.00 target price for the company in a research note on Friday, September 8th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Mid-America Apartment Communities currently has an average rating of “Buy” and an average target price of $110.50.
In other Mid-America Apartment Communities news, Director William Reid Sanders bought 7,000 shares of the stock in a transaction on Friday, October 27th. The stock was purchased at an average price of $100.11 per share, with a total value of $700,770.00. Following the completion of the purchase, the director now owns 8,209 shares in the company, valued at $821,802.99. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.25% of the stock is currently owned by insiders.
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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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