to those that are in MAA looking to open a position on any sell off. Have owned the Preferreds for sometime now, 3 years. Do you think Maa will be able to pull of the divdend coverage in these current market conditions? Any comments please. Regards, Voodoo
I liquidated some small positions today to preserve capital. It is possible that the market will improve, and moreover it wants to, however I could not risk holding a company that could reduce the dividend in the near term. The MAA positions were in income accounts I hold in trust for elderly parents. Besides profit is always a good thing. I also, took profits in ARI and AKR, which I took in my accounts as well. I will keep MAA on my watch list.
The maac.net website posted the presentation for the NAREIT Institutional Investors Forum. (It's under financial reports). There is currently a 17 cent shortfall between Funds Available for Distribution and dividends. Page 20 covers the prospects for making up the difference, which seem to depend on economic recovery, the joint venture, and leasing the new development pipeline. I think I'm still not in at this point. Maybe if the share prices drop.