Mid-America Apartment Communities Inc (NYSE:MAA) declared a quarterly dividend on Thursday, March 21st, RTT News reports. Stockholders of record on Monday, April 15th will be given a dividend of 0.96 per share by the real estate investment trust on Tuesday, April 30th. This represents a $3.84 annualized dividend and a dividend yield of 3.56%.
Mid-America Apartment Communities has raised its dividend payment by an average of 6.2% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Mid-America Apartment Communities has a dividend payout ratio of 63.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Mid-America Apartment Communities to earn $6.38 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 60.2%.
Mid-America Apartment Communities stock opened at $107.81 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.12 and a current ratio of 0.12. Mid-America Apartment Communities has a 12 month low of $86.61 and a 12 month high of $108.45. The firm has a market cap of $12.12 billion, a PE ratio of 17.85, a P/E/G ratio of 3.28 and a beta of 0.49.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. KeyCorp upped their price objective on shares of Mid-America Apartment Communities from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday. TheStreet upgraded shares of Mid-America Apartment Communities from a “c+” rating to a “b-” rating in a report on Thursday, February 14th. BMO Capital Markets reiterated a “hold” rating and issued a $102.00 price objective on shares of Mid-America Apartment Communities in a report on Wednesday, January 30th. Finally, ValuEngine upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $105.06.
In other news, CEO H Eric Bolton, Jr. sold 338 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $107.04, for a total transaction of $36,179.52. Following the completion of the transaction, the chief executive officer now owns 222,316 shares of the company’s stock, valued at $23,796,704.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Albert M. Campbell III sold 280 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $107.04, for a total transaction of $29,971.20. Following the transaction, the chief financial officer now directly owns 44,582 shares of the company’s stock, valued at approximately $4,772,057.28. The disclosure for this sale can be found here. Insiders have sold 3,942 shares of company stock valued at $404,628 in the last ninety days. 1.26% of the stock is owned by company insiders.
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 Communities, and Non-Same Store and Other segments. The Same Store Communities segment focuses on communities that the company has owned and have been stabilized for at least a full twelve months as of the first day of the calendar year.
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