MI Developments Stock To Go Ex-dividend Tomorrow (MIM)

NEW YORK ( TheStreet) -- The ex-dividend date for MI Developments (NYSE: MIM) is tomorrow, March 21, 2012. Owners of shares as of market close today will be eligible for a dividend of 50 cents per share. At a price of $34.87 as of 9:35 a.m. ET, the dividend yield is 5.5%.

The average volume for MI Developments has been 171,200 shares per day over the past 30 days. MI Developments has a market cap of $1.63 billion and is part of the financial sector and real estate industry. Shares are up 10.4% year to date as of the close of trading on Monday.

MI Developments Inc. engages in the acquisition, development, construction, ownership, leasing, and management of primarily industrial and commercial properties. The company has a P/E ratio of 29, above the average real estate industry P/E ratio of 10.8 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates MI Developments as a buy. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full MI Developments Ratings Report.

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