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

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Investors Real Estate Trust Reit (NYSE:IRET) declared a quarterly dividend on Thursday, September 5th, Fidelity reports. Investors of record on Monday, September 16th will be paid 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 3.91%. The ex-dividend date 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% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 IRET traded up $0.16 during trading hours on Thursday, reaching $71.61. The stock had a trading volume of 1,321 shares, compared to its average volume of 56,734. Investors Real Estate Trust Reit has a 12 month low of $46.30 and a 12 month high of $72.42. The firm has a 50-day simple moving average of $67.62 and a 200 day simple moving average of $61.58. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $838.13 million, a price-to-earnings ratio of 21.21, a P/E/G ratio of 3.27 and a beta of 0.86.

A number of equities analysts recently issued reports on IRET shares. DA Davidson reiterated a “buy” rating on shares of Investors Real Estate Trust Reit in a report on Monday, July 29th. Compass Point started coverage on Investors Real Estate Trust Reit in a report on Monday, July 22nd. They issued a “buy” rating and a $67.50 target price on the stock. BMO Capital Markets increased their target price on 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. ValuEngine cut Investors Real Estate Trust Reit from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, Zacks Investment Research upgraded Investors Real Estate Trust Reit from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Saturday, August 10th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $73.50.

About Investors Real Estate Trust Reit

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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