GERMANTOWN, Tenn. - Mid-America Apartment (NYSE:MAA) Communities, Inc. (NYSE: MAA), a real estate investment trust (REIT), declared a quarterly dividend of $1.47 per share on common stock, scheduled for payment on July 31, 2024, to shareholders on record as of July 15, 2024. This marks the company's 122nd consecutive quarterly cash dividend and continues its 30-year history of maintaining or increasing these payments.
The dividend announcement precedes MAA's earnings report, also expected on July 31, 2024. The company, a member of the S&P 500, specializes in owning and managing apartment communities primarily in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
The forward-looking statements in the press release regarding the dividend payments are based on current expectations and are subject to risks including economic downturns and changes in interest rates. These factors could potentially affect the company's ability to continue paying dividends as projected. MAA's filings with the Securities and Exchange Commission, particularly the annual report on Form 10-K, detail the inherent risks in the apartment and real estate sectors..
InvestingPro Insights
Mid-America Apartment Communities , Inc. (NYSE: MAA) has shown a consistent commitment to rewarding its shareholders, as evidenced by the recently declared quarterly dividend. This commitment is further highlighted by the company's impressive track record of raising its dividend for 13 consecutive years, a testament to its stable financial performance and prudent capital management strategies. This information, an InvestingPro Tip, underlines MAA's reliability as an income-generating investment.
InvestingPro data reveals a market capitalization of approximately $16.37 billion USD, which positions MAA as a notable player in the REIT sector. With a P/E ratio of 28.67 and an adjusted P/E ratio for the last twelve months as of Q1 2024 at 29.63, investors may consider the stock's valuation in light of its earnings. Moreover, the company's dividend yield as of April 2024 stands at a robust 4.3%, which is competitive in the current market environment and could be appealing to dividend-seeking investors.
For those interested in a deeper analysis of Mid-America Apartment Communities, Inc., there are additional InvestingPro Tips available, offering insights such as the company's short-term obligations in relation to its liquid assets and predictions by analysts about its profitability for the year. To explore these insights and more, investors can visit https://www.investing.com/pro/MAA and use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 4 more tips listed on InvestingPro that could provide investors with a comprehensive understanding of MAA's financial health and future prospects.
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