Recent

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

Mid-America Apartment Communities Inc. Message Board

  • llwjr llwjr Jul 9, 2003 10:26 PM Flag

    Warning regarding Preferred B shares

    Several other posters have suggested the
    purchase of the MAA Preferred "B" shares.

    According to the "B" prospectus, the date
    after which MAA can redeem the "B" shares was December 1, 2002. Therefore MAA can redeem
    them anytime it wants.

    Therefore you should consider the effect of
    a possible loss of the premium on the yield when buying the "B" shares.

    At the current asking price of $25.40, the
    possible loss would be 40 cents. So if the
    shares were redeemed one year from now, the
    actual yield would be approximately 7.16%
    ($2.2188 minus the 40 cent premium would equal $1.8188, divided by $25.40 would equal 7.16%). And if the shares were redeemed
    sooner, the yield would be even lower.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
 
MAA
96.18+0.30(+0.31%)Sep 23 4:02 PMEDT