Investors Real Estate Trust (IRET) To Go Ex-Dividend on September 14th
Investors Real Estate Trust (NYSE:IRET) announced a quarterly dividend on Thursday, September 7th, Wall Street Journal reports. Shareholders of record on Friday, September 15th will be paid a dividend of 0.07 per share by the real estate investment trust on Monday, October 2nd. This represents a $0.28 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend is Thursday, September 14th.
Investors Real Estate Trust has a dividend payout ratio of 73.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Investors Real Estate Trust to earn $0.39 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 71.8%.
Shares of Investors Real Estate Trust (NYSE:IRET) traded up 0.16% during trading on Friday, reaching $6.18. 216,922 shares of the company traded hands. Investors Real Estate Trust has a 12 month low of $5.60 and a 12 month high of $7.28. The firm has a market capitalization of $745.44 million, a PE ratio of 23.86 and a beta of 0.79. The firm has a 50-day moving average price of $6.20 and a 200-day moving average price of $6.10.
Investors Real Estate Trust (NYSE:IRET) last announced its quarterly earnings data on Wednesday, June 28th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $54.34 million for the quarter, compared to the consensus estimate of $51.36 million. Investors Real Estate Trust had a net margin of 21.07% and a negative return on equity of 2.51%. Investors Real Estate Trust’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $0.14 earnings per share. Equities research analysts anticipate that Investors Real Estate Trust will post ($0.01) EPS for the current year.
Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Investors Real Estate Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. BidaskClub cut Investors Real Estate Trust from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, ValuEngine cut Investors Real Estate Trust from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Investors Real Estate Trust presently has a consensus rating of “Hold” and a consensus price target of $6.51.
About Investors Real Estate Trust
Investors Real Estate Trust is a self-advised equity real estate investment trust (REIT). The Company’s business consists of owning and operating income-producing real estate properties. Its segments include Multifamily, Healthcare and All Other. Its investments consist of multifamily and healthcare properties located primarily in the upper Midwest states of Minnesota and North Dakota.
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