Investors Real Estate Trust (NYSE:IRET) declared a quarterly dividend on Wednesday, December 6th, Wall Street Journal reports. Stockholders of record on Tuesday, January 2nd will be given a dividend of 0.07 per share by the real estate investment trust on Tuesday, January 16th. This represents a $0.28 annualized dividend and a dividend yield of 4.71%. The ex-dividend date is Friday, December 29th.
Investors Real Estate Trust has a payout ratio of 73.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Investors Real Estate Trust to earn $0.44 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 63.6%.
Investors Real Estate Trust (IRET) traded up $0.03 on Thursday, hitting $5.94. 504,300 shares of the stock traded hands, compared to its average volume of 442,040. The stock has a market capitalization of $712.67, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 2.63 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.23 and a quick ratio of 0.23. Investors Real Estate Trust has a 52-week low of $5.60 and a 52-week high of $7.28.
IRET has been the subject of several recent research reports. ValuEngine upgraded shares of Investors Real Estate Trust from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research raised shares of Investors Real Estate Trust from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research note on Wednesday, November 15th. Robert W. Baird reaffirmed a “hold” rating and set a $7.00 price objective on shares of Investors Real Estate Trust in a research note on Sunday, November 19th. Finally, BidaskClub raised shares of Investors Real Estate Trust from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Investors Real Estate Trust presently has a consensus rating of “Hold” and a consensus price target of $6.67.
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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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