Skip to main content
No. of Recommendations: 0
<<Ralph, is the apartment REIT you mentioned Mid-American or Mid-America (MAA)?>>

It is MAA. Again, I do not follow this company closely, but unlike USV it IS in my REIT survey. My recollection is that most of the assets are located in Florida, Georgia, Tennessee and Texas, which are of course low barrier to entry markets. I recall some data showing that same-store NOI growth has been below that of most of its peers. (I am not sure of this, and so please feel free to correct me on it). Dividend coverage is very tight; "free cash flow," as defined by the company, was $2.37 last year (up slightly from $2.34 in '00), and the dividend is $2.34. AFFO estimates for this year and next are below the current dividend rate (though I am not suggesting that a cut is imminent (I just don't know). In Q4, same-store NOI was up 1.2% (but was slightly negative for Q4).

Ralph
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.