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

Investors Real Estate Trust Reit (NYSE:IRET) announced a quarterly dividend on Thursday, September 5th, Fidelity reports. Investors 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 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 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. 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 NYSE:IRET traded up $0.14 during trading hours on Wednesday, hitting $71.41. 5,240 shares of the company’s stock traded hands, compared to its average volume of 61,634. Investors Real Estate Trust Reit has a 1 year low of $46.30 and a 1 year high of $72.42. The business has a fifty day moving average price of $67.41 and a 200-day moving average price of $61.52. The firm has a market capitalization of $838.13 million, a P/E ratio of 21.21, a price-to-earnings-growth 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.

A number of research firms have recently commented on IRET. DA Davidson reaffirmed a “buy” rating on shares of Investors Real Estate Trust Reit in a research note on Monday, July 29th. ValuEngine downgraded Investors Real Estate Trust Reit from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. BMO Capital Markets raised their price target on Investors Real Estate Trust Reit from $74.00 to $76.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Compass Point initiated coverage on 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, 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 research note on Saturday, August 10th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock 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).

Read More: How to start trading in the forex market?

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

Receive News & Ratings for Investors Real Estate Trust Reit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Real Estate Trust Reit and related companies with MarketBeat.com's FREE daily email newsletter.