Mid-America Apartment Communities to Trade Ex-Dividend Soon

Mid-America Apartment Communities Inc prepares for its upcoming ex-dividend date on 12/13/24, where its Series A Preferred Shares will pay a quarterly dividend of $1.0625. Analysts predict a 1.80% drop in share price when trading commences.

Date: 12-12-2024

AI Rating: 6

The report provides key insights into the upcoming ex-dividend date for Mid-America Apartment Communities Inc's preferred shares, which could impact stock prices. Currently, the 8 1/2% Series A Cumulative Redeemable Preferred Shares (MAA.PRI) are set to trade ex-dividend, with a quarterly dividend of $1.0625 payable on 12/31/24.

This dividend translates to approximately 1.80% of the recent share price of $59.11. As a result, shares are expected to open 1.80% lower on the ex-dividend date. The yield of 7.26% on these preferred shares is slightly below the average yield of 7.68% in the Real Estate preferred stock category. Therefore, while the yield remains attractive, it may be less appealing in comparison to competitors in the sector.

The price decline of 1.80% on the ex-dividend date is a typical market reaction to such events. Investors may consider this a point of concern, reflecting a potential decrease in the perceived value of these shares quite promptly after the dividend payment is announced. However, a modest increase of about 0.9% in common shares on the day of the report could indicate ongoing investor interest in the company.

Stocks: MAA