Investors Real Estate Trust Reit (IRET) to Issue Quarterly Dividend of $0.70 on September 30th

Investors Real Estate Trust Reit (NYSE:IRET) announced a quarterly dividend on Thursday, September 5th, Fidelity reports. Shareholders of record on Monday, September 16th will be given a dividend of 0.70 per share by the real estate investment trust on Monday, September 30th. This represents a $2.80 annualized dividend and a yield of 3.92%. The ex-dividend date is Friday, September 13th.

Investors Real Estate Trust Reit has decreased its dividend payment by an average of 18.6% per year over the last three years. Investors Real Estate Trust Reit has a payout ratio of 800.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Investors Real Estate Trust Reit to earn $3.92 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 71.4%.

Shares of Investors Real Estate Trust Reit stock traded up $0.18 on Wednesday, hitting $71.45. 79,035 shares of the company’s stock traded hands, compared to its average volume of 56,734. The stock has a market cap of $838.13 million, a P/E ratio of 21.21, a PEG ratio of 3.27 and a beta of 0.86. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.40. The firm’s 50-day moving average is $67.41 and its 200 day moving average is $61.52. Investors Real Estate Trust Reit has a 52-week low of $46.30 and a 52-week high of $72.42.

A number of analysts recently issued reports on the stock. DA Davidson restated a “buy” rating on shares of Investors Real Estate Trust Reit in a research note on Monday, July 29th. Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research note on Saturday, August 10th. ValuEngine lowered shares of Investors Real Estate Trust Reit from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Compass Point started coverage on shares of Investors Real Estate Trust Reit in a report on Monday, July 22nd. They set a “buy” rating and a $67.50 price objective for the company. Finally, BMO Capital Markets boosted their target price on shares of Investors Real Estate Trust Reit from $74.00 to $76.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $73.50.

Investors Real Estate Trust Reit Company Profile

IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities. As of December 31, 2018, IRET owned interests in 87 apartment communities consisting of 13,702 apartment homes. IRET's common shares and Series C preferred shares are publicly traded on the New York Stock Exchange (NYSE symbols: IRET and IRET PRC, respectively).

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Dividend History for Investors Real Estate Trust Reit (NYSE:IRET)

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