Investors Real Estate Trust Reit (NYSE:IRET) Plans Quarterly Dividend of $0.70

Investors Real Estate Trust Reit (NYSE:IRET) announced a quarterly dividend on Thursday, September 5th, Fidelity reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Friday, September 13th.

Investors Real Estate Trust Reit has decreased its dividend by an average of 18.6% per year over the last three years. Investors Real Estate Trust Reit has a dividend 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. 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 during trading on Wednesday, hitting $71.45. The stock had a trading volume of 79,035 shares, compared to its average volume of 56,734. The business has a fifty day moving average of $67.41 and a two-hundred day moving average of $61.52. Investors Real Estate Trust Reit has a fifty-two week low of $46.30 and a fifty-two week high of $72.42. The firm 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 debt-to-equity ratio of 1.40, a current ratio of 0.49 and a quick ratio of 0.49.



Several equities research analysts have commented on the stock. Compass Point started coverage on shares of Investors Real Estate Trust Reit in a research report on Monday, July 22nd. They issued a “buy” rating and a $67.50 price target on the stock. DA Davidson reissued a “buy” rating on shares of Investors Real Estate Trust Reit in a report 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 for the company in a research report on Saturday, August 10th. ValuEngine cut shares of Investors Real Estate Trust Reit from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. 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 report on Friday, August 23rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Investors Real Estate Trust Reit currently has a consensus rating of “Buy” and a consensus price target 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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