Wed, Oct 1, 2014, 7:10 AM EDT - U.S. Markets open in 2 hrs 20 mins

Recent

% | $
Quotes you view appear here for quick access.

Mid-America Apartment Communities Inc. Message Board

  • jimmydenoh jimmydenoh Apr 9, 2002 4:00 AM Flag

    Ferdie, yours on MAA

    yesterday (on the KTR board) calling it a "disaster" is a gross exaggeration imho. The numbers are these (for FY01): FFO $2.80, FAD $2.23, FCF $2.37, DIVS $2.34. You are correct that DIVS exceed FAD, but they are BELOW FCF, which is defined as FAD plus "addback of other non-cash items, primarily non-real estate depreciation and amortization." In point of fact, year to year they were able to reduce funded debt slightly ($1.4 million), so they are not borrowing to pay DIVS. Management, which has demonstrated high professionalism and dedication to shareholders, expresses strong support for the dividend at its present level and, unless the bottom falls out of their apartment markets, the numbers appear sufficient to maintain it. Tight for sure, tighter than I'd like, but sufficient reward for risk today an an 8.9% yield, assuming of course the FY02 Qtr 1 numbers show no unexpected deterioration. Am I missing something important here?
    PS: Let me add, at the risk of sounding like a leftist program caller to Rush Limbaugh, that I've followed your comments on various boards for quite some time and I've profited from your insight. IOW, you've made me money, friend.

 
MAA
65.65-0.39(-0.59%)Sep 30 4:07 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.
Move, Inc.
NasdaqGSTue, Sep 30, 2014 4:00 PM EDT
eBay Inc.
NasdaqGSTue, Sep 30, 2014 4:15 PM EDT