Ex-Dividend Stocks: Foot Locker, Yum!
NEW YORK ( TheStreet) -- The following stocks go ex-dividend Wednesday, meaning an investor must purchase the shares Tuesday to qualify for the next dividend payment: Foot Locker (FL) , Potash(POT) , Mid-America Apartment Communities (MAA) , Morningstar(MORN) , Service Corp. International (SCI) , Trinity Industries (TRN) and Yum! Brands (YUM)
The shoe retailer is scheduled to report second-quarter earnings on Aug. 12. Analysts, on average, anticipate earnings of 32 cents a share on $1.34 billion in revenue.
"FL is looking to increase its women's apparel assortment at Lady Foot Locker," Sterne Agee analysts wrote in a June 8 report. "The company is working on 14 new store remodels, and testing of new stores to achieve this goal. Management believes that their female customer is looking for compelling athletic apparel products, but at reasonable prices (versus other more expensive retailers). Management was very positive on both the Under Armour (UA-$99.82-Buy) and Nike (NKE-$107.36-Buy) products. We have long held the view that women's athletic apparel is best sold in female-friendly channels such as Nordstrom (JWN-$47.66-NR) and Lady FL, rather than Dicks Sporting Goods (DKS- $46.44-Buy) or the Sports Authority. The company is also testing prototype concepts for Foot Locker and Champs. If the numerous tests are successful, the company will accelerate its store openings over the next few years."
Forward Annual Dividend Yield: 2.4%
"While our 2Q12 estimate are generally near consensus levels, we diverge markedly in the time period beyond that point," Dahlman Rose analysts wrote in a June 15 report. "All of these estimates are tied to the US corn crop coming near current estimates for 2012/13 carryover. As such, we remain cautious heading into the summer but would get constructive when grain and nutrient prices better reflect our expectations of a strong harvest. We have maintained our cautious rating on the sector but have lowered our price target on Potash Corp. to $38/share given the sluggish nature of the potash market in North America after the planting season."
Forward Annual Dividend Yield: 1.5%
Mid-America Apartment Communities
The real estate investment trust is slated to report second-quarter earnings on July 29. Analysts, on average, expect earnings of $1.08 a share on revenue of $121.43 million.
"We adjust our 2012/2013 FFO/sh. ests. to $4.46 and $4.80, respectively," Cantor Fitzgerald analysts wrote in a May 31 report. "We adjust our 2012/2013 AFFO/sh. ests. to $3.79 and $4.14, respectively. Our NAV/sh. est. of $64.00 is unchanged, as is our price target of $71.00. Unlevered/levered 10-yr IRRs are now 7.4%/9.6%, respectively. Our applied NAV premium of 11.2% remains unchanged, as does the underlying aggregate cap rate of 6.35% (as derived from our synthetic transaction cap rate model)."