Mid-America Apartment Communities, Inc. (MAA) to Issue Quarterly Dividend of $1.47 on October 31st

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 given 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 3.64%. The ex-dividend date of this dividend is Tuesday, October 15th.

Mid-America Apartment Communities has a payout ratio of 140.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Stock Performance

NYSE:MAA opened at $161.62 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a 50-day simple moving average of $155.08 and a two-hundred day simple moving average of $141.58. The firm has a market capitalization of $18.89 billion, a PE ratio of 33.88, a P/E/G ratio of 2.63 and a beta of 0.88. Mid-America Apartment Communities has a 52-week low of $115.56 and a 52-week high of $167.39.

Analyst Upgrades and Downgrades

MAA has been the subject of a number of recent research reports. Truist Financial increased their target price on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, August 26th. UBS Group raised their price objective on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a “sell” rating in a research report on Thursday, July 18th. Piper Sandler lifted their target price on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Mizuho raised their price target on Mid-America Apartment Communities from $126.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Finally, Scotiabank boosted their price objective on Mid-America Apartment Communities from $161.00 to $174.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $159.91.

Mid-America Apartment Communities Company Profile

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.