Mid-America Apartment Communities, Inc. (MAA) To Go Ex-Dividend on October 15th

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

Mid-America Apartment Communities has increased its dividend payment by an average of 11.9% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Mid-America Apartment Communities has a dividend payout ratio of 141.7% meaning 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 Trading Up 0.8 %

MAA opened at $153.41 on Friday. Mid-America Apartment Communities has a 12 month low of $115.56 and a 12 month high of $167.39. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average of $157.91 and a 200 day moving average of $143.61. The firm has a market cap of $17.92 billion, a P/E ratio of 32.16, a P/E/G ratio of 2.47 and a beta of 0.88.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MAA shares. Royal Bank of Canada increased their price target on Mid-America Apartment Communities from $145.00 to $148.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Truist Financial lifted their price target on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Wedbush increased their price objective on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Piper Sandler boosted their target price on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, UBS Group increased their price target on Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a “sell” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $159.91.

About Mid-America Apartment Communities

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.