|Bid||0.00 x 1200|
|Ask||139.47 x 900|
|Day's Range||134.03 - 136.16|
|52 Week Range||82.00 - 145.04|
|Beta (5Y Monthly)||0.67|
|PE Ratio (TTM)||61.32|
|Earnings Date||May 04, 2021 - May 10, 2021|
|Forward Dividend & Yield||4.25 (3.16%)|
|Ex-Dividend Date||Mar 12, 2021|
|1y Target Est||141.08|
Mid-America Apartment Communities, Inc., or MAA (NYSE: MAA), today announced a full quarterly dividend of $1.0625 per outstanding share of its 8.50% Series I Cumulative Redeemable Preferred Stock. The dividend is payable on March 31, 2021 to shareholders of record on March 15, 2021.
Residential housing was often viewed as a safe haven during recessions, but the coronavirus pandemic has impacted residential rentals, particularly multifamily and apartment real estate investment trusts (REITs) in unexpected ways. A move from urban city centers to suburban markets has shifted supply and demand in many markets, putting tremendous pressure on rents and landlords. This, coupled with extended eviction moratoriums and a record number of tenants unable to pay rent, makes it a tough time to be an apartment REIT.
Last year was a challenging one for most apartment real estate investment trusts (REITs). The average one produced a total return of -15.3%. While this headwind impacted apartment REITs focused on urban cores in high-cost coastal cities, it didn't affect Mid-America Apartment Communities (NYSE: MAA), as it only produced a slight negative total return last year.