Mid-America Apartment Communities said on March 21, 2023 that its board of directors declared a regular quarterly dividend of $1.40 per share ($5.60 annualized). Previously, the company paid $1.06 per share.
Shares must be purchased before the ex-div date of April 13, 2023 to qualify for the dividend. Shareholders of record as of April 14, 2023 will receive the payment on April 28, 2023.
At the current share price of $140.75 / share, the stock's dividend yield is 3.98%. Looking back five years and taking a sample every week, the average dividend yield has been 3.10%, the lowest has been 1.92%, and the highest has been 4.72%. The standard deviation of yields is 0.61 (n=237).
The current dividend yield is 1.45 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.02. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.40%, demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 30.93% Upside
As of March 22, 2023, the average one-year price target for Mid-America Apartment Communities is $184.28. The forecasts range from a low of $159.58 to a high of $215.25. The average price target represents an increase of 30.93% from its latest reported closing price of $140.75.
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The projected annual revenue for Mid-America Apartment Communities is $2,193MM, an increase of 8.57%. The projected annual non-GAAP EPS is $4.58.
What is the Fund Sentiment?
There are 1717 funds or institutions reporting positions in Mid-America Apartment Communities. This is an increase of 56 owner(s) or 3.37% in the last quarter. Average portfolio weight of all funds dedicated to MAA is 0.42%, an increase of 3.01%. Total shares owned by institutions increased in the last three months by 4.91% to 100,748K shares. The put/call ratio of MAA is 2.16, indicating a bearish outlook.
What are Large Shareholders Doing?
Cohen & Steers holds 9,803K shares representing 8.41% ownership of the company. In it's prior filing, the firm reported owning 5,889K shares, representing an increase of 39.92%. The firm increased its portfolio allocation in MAA by 66.26% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 5,234K shares representing 4.49% ownership of the company. In it's prior filing, the firm reported owning 5,290K shares, representing a decrease of 1.07%. The firm increased its portfolio allocation in MAA by 1.01% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,507K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 1,570K shares, representing an increase of 55.24%. The firm increased its portfolio allocation in MAA by 912.56% over the last quarter.
APG Asset Management US holds 3,371K shares representing 2.89% ownership of the company. In it's prior filing, the firm reported owning 3,353K shares, representing an increase of 0.52%. The firm increased its portfolio allocation in MAA by 0.80% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 2,685K shares representing 2.30% ownership of the company. In it's prior filing, the firm reported owning 2,662K shares, representing an increase of 0.87%. The firm decreased its portfolio allocation in MAA by 6.19% over the last quarter.
Mid-America Apartment Communities Background Information
(This description is provided by the company.)
MAA is a self-administered real estate investment trust and member of the S&P 500. MAA owns and manages apartment communities throughout the Southeast, Southwest and Mid-Atlantic regions of the U.S. and is focused on delivering strong, full-cycle investment performance for shareholders.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
