Mid-America Apartment Communities Inc (NYSE:MAA) declared a quarterly dividend on Tuesday, May 21st, RTT News reports. Shareholders of record on Monday, July 15th will be paid a dividend of 0.96 per share by the real estate investment trust on Wednesday, July 31st. This represents a $3.84 dividend on an annualized basis and a yield of 3.37%.

Mid-America Apartment Communities has raised 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% indicating that its dividend is sufficiently covered by earnings. Analysts expect Mid-America Apartment Communities to earn $6.39 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 60.1%.

Shares of MAA opened at $114.01 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.14 and a current ratio of 0.14. Mid-America Apartment Communities has a twelve month low of $88.47 and a twelve month high of $115.79. The company has a market capitalization of $13.12 billion, a price-to-earnings ratio of 18.88, a P/E/G ratio of 4.75 and a beta of 0.48.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.95). Mid-America Apartment Communities had a net margin of 14.86% and a return on equity of 3.68%. The company had revenue of $401.17 million during the quarter, compared to the consensus estimate of $400.91 million. During the same period in the previous year, the firm posted $1.36 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Analysts anticipate that Mid-America Apartment Communities will post 6.22 earnings per share for the current year.

In related news, insider H Eric Bolton, Jr. sold 258 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $108.58, for a total transaction of $28,013.64. Following the transaction, the insider now directly owns 220,303 shares in the company, valued at $23,920,499.74. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Albert M. Campbell III sold 280 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $107.04, for a total transaction of $29,971.20. Following the transaction, the chief financial officer now owns 44,582 shares in the company, valued at $4,772,057.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,679 shares of company stock worth $1,057,456. 1.30% of the stock is owned by corporate insiders.

MAA has been the topic of a number of research reports. Barclays reissued a “buy” rating on shares of Mid-America Apartment Communities in a research report on Wednesday, January 23rd. Zacks Investment Research lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Thursday, January 24th. ValuEngine raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. BMO Capital Markets reissued a “hold” rating and issued a $102.00 price objective on shares of Mid-America Apartment Communities in a research report on Wednesday, January 30th. Finally, TheStreet raised shares of Mid-America Apartment Communities from a “c+” rating to a “b-” rating in a research report on Thursday, February 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $109.54.

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Mid-America Apartment Communities Company Profile

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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