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Investors Real Estate Trust

NYSE:IRET
Snowflake Description

Second-rate dividend payer with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IRET
NYSE
$772M
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities. The last earnings update was 14 days ago. More info.


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IRET Share Price and Events
7 Day Returns
0.1%
NYSE:IRET
1.2%
US REITs
1.6%
US Market
1 Year Returns
12.3%
NYSE:IRET
15.2%
US REITs
2.6%
US Market
IRET Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Investors Real Estate Trust (IRET) 0.1% 3% -1.4% 12.3% -3.1% -33.1%
US REITs 1.2% 2.9% 3.3% 15.2% 13.3% 25.8%
US Market 1.6% -1.7% 2.1% 2.6% 38.5% 41.4%
1 Year Return vs Industry and Market
  • IRET underperformed the REITs industry which returned 15.2% over the past year.
  • IRET outperformed the Market in United States of America which returned 2.6% over the past year.
Price Volatility
IRET
Industry
5yr Volatility vs Market

IRET Value

 Is Investors Real Estate Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Investors Real Estate Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Investors Real Estate Trust.

NYSE:IRET Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:IRET
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (90.3%))
0.94
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.94 * 5.96%)
8.33%

Discounted Cash Flow Calculation for NYSE:IRET using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Investors Real Estate Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Investors Real Estate Trust is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:IRET DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 8.33%)
2019 41.66 Analyst x2 38.46
2020 39.91 Analyst x1 34.01
2021 41.44 Est @ 3.83% 32.60
2022 42.89 Est @ 3.5% 31.14
2023 44.30 Est @ 3.27% 29.69
2024 45.67 Est @ 3.11% 28.26
2025 47.04 Est @ 3% 26.87
2026 48.41 Est @ 2.92% 25.52
2027 49.80 Est @ 2.86% 24.23
2028 51.20 Est @ 2.82% 23.00
Present value of next 10 years cash flows $293.78
NYSE:IRET DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $51.20 × (1 + 2.73%) ÷ (8.33% – 2.73%)
$939.17
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $939.17 ÷ (1 + 8.33%)10
$421.92
NYSE:IRET Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $293.78 + $421.92
$715.71
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $715.71 / 13.12
$55.02
NYSE:IRET Discount to Share Price
Calculation Result
Value per share (USD) From above. $55.02
Current discount Discount to share price of $59.32
= -1 x ($59.32 - $55.02) / $55.02
-7.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Investors Real Estate Trust is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Investors Real Estate Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Investors Real Estate Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:IRET PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.98
NYSE:IRET Share Price ** NYSE (2019-05-21) in USD $59.32
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.75x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.74x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Investors Real Estate Trust.

NYSE:IRET PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:IRET Share Price ÷ EPS (both in USD)

= 59.32 ÷ -0.98

-60.3x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Investors Real Estate Trust is loss making, we can't compare its value to the US REITs industry average.
  • Investors Real Estate Trust is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Investors Real Estate Trust's expected growth come at a high price?
Raw Data
NYSE:IRET PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -60.3x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-28.5%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.58x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Investors Real Estate Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Investors Real Estate Trust's assets?
Raw Data
NYSE:IRET PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $38.12
NYSE:IRET Share Price * NYSE (2019-05-21) in USD $59.32
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.89x
United States of America Market PB Ratio Median Figure of 5,202 Publicly-Listed Companies 1.84x
NYSE:IRET PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:IRET Share Price ÷ Book Value per Share (both in USD)

= 59.32 ÷ 38.12

1.56x

* Primary Listing of Investors Real Estate Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Investors Real Estate Trust is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Investors Real Estate Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Investors Real Estate Trust has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

IRET Future Performance

 How is Investors Real Estate Trust expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-28.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Investors Real Estate Trust expected to grow at an attractive rate?
  • Unable to compare Investors Real Estate Trust's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Investors Real Estate Trust's earnings growth to the United States of America market average as it is expected to be loss making during the next 1-3 years.
  • Investors Real Estate Trust's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:IRET Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:IRET Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -28.5%
NYSE:IRET Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 2.3%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.9%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.8%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:IRET Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:IRET Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 192 -21 2
2019-12-31 187 -21 3
NYSE:IRET Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 185 63 -12
2018-12-31 183 60 -14
2018-10-31 178 48 -41
2018-07-31 175 47 -43
2018-04-30 170 55 -60
2018-01-31 167 61 -41
2017-10-31 164 66 -35
2017-07-31 151 74 -33
2017-04-30 160 79 -45
2017-01-31 167 75 -37
2016-10-31 175 68 -32
2016-07-31 193 57 -29
2016-04-30 146 72 -7

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Investors Real Estate Trust is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Investors Real Estate Trust's revenue is expected to grow by 2.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:IRET Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Investors Real Estate Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:IRET Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 -1.84 -1.84 -1.84 1.00
2019-12-31 -1.72 -1.43 -2.00 2.00
NYSE:IRET Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.98
2018-12-31 -1.20
2018-10-31 -3.42
2018-07-31 -3.62
2018-04-30 -5.02
2018-01-31 -3.44
2017-10-31 -2.88
2017-07-31 -2.69
2017-04-30 -3.75
2017-01-31 -3.05
2016-10-31 -2.68
2016-07-31 -2.37
2016-04-30 -0.56

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Investors Real Estate Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Investors Real Estate Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Investors Real Estate Trust has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

IRET Past Performance

  How has Investors Real Estate Trust performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Investors Real Estate Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Investors Real Estate Trust does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Investors Real Estate Trust's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Investors Real Estate Trust's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
Investors Real Estate Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Investors Real Estate Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:IRET Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 185.38 -11.69 14.91
2018-12-31 182.81 -14.27 14.72
2018-10-31 178.49 -40.88 13.38
2018-07-31 174.71 -43.39 13.07
2018-04-30 169.75 -60.26 13.25
2018-01-31 167.50 -41.44 14.81
2017-10-31 164.47 -34.75 15.97
2017-07-31 151.47 -32.53 15.91
2017-04-30 160.10 -45.39 15.87
2017-01-31 167.23 -36.94 14.15
2016-10-31 175.41 -32.47 12.90
2016-07-31 192.89 -29.01 12.31
2016-04-30 145.50 -6.93 13.50
2016-01-31 165.78 -3.47 7.09
2015-10-31 170.31 2.17 8.13
2015-07-31 175.15 7.96 9.15
2015-04-30 179.32 1.22 11.82
2015-01-31 221.15 -28.04 15.49
2014-10-31 236.64 -32.22 15.64
2014-07-31 251.23 -34.37 16.98
2014-04-30 164.59 -1.85 10.74
2014-01-31 263.49 3.60 16.50
2013-10-31 257.33 4.25 15.64
2013-07-31 253.81 5.96 13.32
2013-04-30 248.06 7.01 12.23
2013-01-31 243.04 7.02 11.63
2012-10-31 241.32 7.85 10.90
2012-07-31 238.87 5.68 10.79

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Investors Real Estate Trust has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Investors Real Estate Trust used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • It is difficult to establish if Investors Real Estate Trust improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Investors Real Estate Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Investors Real Estate Trust has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

IRET Health

 How is Investors Real Estate Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Investors Real Estate Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Investors Real Estate Trust's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Investors Real Estate Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Investors Real Estate Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Investors Real Estate Trust Company Filings, last reported 1 month ago.

NYSE:IRET Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 636.95 696.83 23.36
2018-12-31 649.42 647.36 14.61
2018-10-31 668.82 661.01 16.10
2018-07-31 683.96 664.10 18.25
2018-04-30 694.21 703.43 13.67
2018-01-31 730.03 689.87 23.03
2017-10-31 592.31 924.96 42.46
2017-07-31 608.95 806.70 23.80
2017-04-30 643.28 664.77 28.82
2017-01-31 628.50 884.86 57.00
2016-10-31 659.80 909.72 68.73
2016-07-31 665.49 907.97 54.44
2016-04-30 725.78 911.89 66.70
2016-01-31 716.17 919.30 47.12
2015-10-31 705.98 874.84 55.13
2015-07-31 736.25 919.09 44.77
2015-04-30 747.32 793.67 48.97
2015-01-31 742.55 1,188.86 52.15
2014-10-31 733.04 1,161.35 53.00
2014-07-31 732.51 1,136.70 60.62
2014-04-30 726.75 1,083.29 47.27
2014-01-31 771.43 1,078.74 53.49
2013-10-31 775.94 1,062.79 68.73
2013-07-31 771.31 1,072.70 93.19
2013-04-30 761.38 1,077.28 94.13
2013-01-31 698.28 1,073.15 62.30
2012-10-31 692.49 1,087.97 84.26
2012-07-31 575.73 1,150.12 37.00
  • Investors Real Estate Trust's level of debt (109.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (145.9% vs 109.4% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Investors Real Estate Trust has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Investors Real Estate Trust has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 9.7% per year.
X
Financial health checks
We assess Investors Real Estate Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Investors Real Estate Trust has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

IRET Dividends

 What is Investors Real Estate Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.72%
Current annual income from Investors Real Estate Trust dividends. Estimated to be 4.72% next year.
If you bought $2,000 of Investors Real Estate Trust shares you are expected to receive $94 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Investors Real Estate Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Investors Real Estate Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.72%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:IRET Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2003 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:IRET Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 2.80 2.00
2019-12-31 2.80 3.00
NYSE:IRET Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-05 2.800 4.712
2018-12-06 2.800 5.034
2018-09-05 2.800 5.114
2018-06-05 2.800 5.053
2018-03-05 2.800 5.377
2017-12-05 2.800 5.159
2017-09-05 2.800 4.674
2017-06-07 2.800 4.523
2017-03-07 2.800 4.718
2016-09-01 5.200 8.124
2016-06-02 5.200 8.062
2016-03-08 5.200 7.834
2015-12-03 5.200 7.814
2015-09-02 5.200 6.746
2015-06-02 5.200 7.311
2015-02-13 5.200 7.038
2014-12-04 5.200 6.261
2014-09-03 5.200 6.488
2014-06-05 5.200 5.964
2014-03-05 5.200 5.923
2013-12-05 5.200 6.035
2013-09-04 5.200 6.162
2013-06-03 5.200 6.049
2013-03-06 5.200 5.403
2012-09-04 5.200 5.992
2012-06-01 5.200 6.581
2012-03-07 5.200 7.053
2011-12-07 5.200 6.966
2011-06-30 5.200 6.925
2011-06-03 6.860 7.718
2011-03-09 6.860 7.341
2010-12-08 6.860 7.555
2010-09-03 6.860 7.917
2010-05-26 6.860 8.027
2010-02-25 6.860 7.694
2009-11-18 6.860 7.763
2009-08-26 6.840 7.790
2009-05-27 6.820 7.653

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Investors Real Estate Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Investors Real Estate Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Investors Real Estate Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Investors Real Estate Trust has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

IRET Management

 What is the CEO of Investors Real Estate Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mark Decker
COMPENSATION $1,748,211
AGE 42
TENURE AS CEO 2.1 years
CEO Bio

Mr. Mark O. Decker, Jr., serves as the Chief Executive Officer and Trustee at Investors Real Estate Trust (IRET) since April 27, 2017 and President since joining on August 5, 2016. Mr. Decker has capital markets and strategic planning experience from his 16-year career as a real estate investment banker. He has served as Chief Investment Officer of Investors Real Estate Trust since August 5, 2016. From 2011 to 2016, Mr. Decker served as the Managing Director and US Group Head of Real Estate Investment & Corporate Banking at BMO Capital Markets, where he helped grow the platform into an active participant in real estate debt, equity and M&A transactions. He worked for nearly 16 years as a real estate investment banker at BMO Capital Markets, and Ferris, Baker Watts and during that time, was involved in more than $90 billion in real estate capital markets and advisory transactions. Prior to that, Mr. Decker started his career in banking in Friedman, Billings, Ramsey & Co., Inc.'s Financial Institutions Group. Prior to that, he served as Managing Director with Morgan Keegan & Company, Inc., a brokerage firm and investment banking business, from February 2011 to September 2011, and worked with Robert W. Baird & Co. Incorporated, an employee-owned international wealth management, capital markets, private equity, and asset management firm with offices in the United States, Europe, and Asia, from 2004 to 2011, where he last served as Managing Director, Real Estate Banking. Mr. Decker holds a B.A. in History from the College of William & Mary.

CEO Compensation
  • Mark's compensation has increased whilst company is loss making.
  • Mark's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Investors Real Estate Trust management team in years:

1.9
Average Tenure
42
Average Age
  • The average tenure for the Investors Real Estate Trust management team is less than 2 years, this suggests a new team.
Management Team

Mark Decker

TITLE
President
COMPENSATION
$2M
AGE
42
TENURE
2.1 yrs

John Kirchmann

TITLE
Executive VP & CFO
COMPENSATION
$1M
AGE
53
TENURE
1.9 yrs

Anne Olson

TITLE
Executive VP
COMPENSATION
$1M
AGE
41
TENURE
0.9 yrs

Nancy Andersen

TITLE
Senior VP & Chief Accounting Officer
COMPENSATION
$279K
AGE
40
TENURE
4.3 yrs

Jonathan Bishop

TITLE
Vice President Finance

Michelle Saari

TITLE
Vice President of Marketing & Communications
TENURE
19.7 yrs

Karin Wentz

TITLE
Senior VP & Associate General Counsel
AGE
58
TENURE
12.3 yrs

Grant Campbell

TITLE
Senior Vice President of Investments
TENURE
0.9 yrs

Susan Picotte

TITLE
Vice President of Asset Management
TENURE
1.9 yrs

Justin Hammer

TITLE
Vice President of Operations
TENURE
1.2 yrs
Board of Directors Tenure

Average tenure and age of the Investors Real Estate Trust board of directors in years:

2.6
Average Tenure
58.5
Average Age
  • The average tenure for the Investors Real Estate Trust board of directors is less than 3 years, this suggests a new board.
Board of Directors

Jeff Caira

TITLE
Chairman of the Board
COMPENSATION
$116K
AGE
61
TENURE
2.1 yrs

Mark Decker

TITLE
President
COMPENSATION
$2M
AGE
42
TENURE
2.1 yrs

Linda J. Keller

TITLE
Independent Trustee
COMPENSATION
$81K
AGE
69
TENURE
7.7 yrs

Michael Dance

TITLE
Independent Trustee
COMPENSATION
$80K
AGE
61
TENURE
3.1 yrs

Emily Green

TITLE
Independent Trustee
COMPENSATION
$72K
AGE
60
TENURE
1.3 yrs

Terry Maxwell

TITLE
Independent Trustee
COMPENSATION
$74K
AGE
57
TENURE
5.5 yrs

John Schissel

TITLE
Independent Trustee
COMPENSATION
$75K
AGE
52
TENURE
3.1 yrs

Mary Twinem

TITLE
Independent Trustee
COMPENSATION
$69K
AGE
57
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Investors Real Estate Trust insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
12. Mar 19 Buy Emily Nagle Green Individual 08. Mar 19 08. Mar 19 255 $58.32 $14,872
15. Feb 19 Buy Michael Dance Individual 31. Dec 18 31. Dec 18 1,000 $47.32 $47,320
03. Jan 19 Buy Mary Twinem Individual 31. Dec 18 31. Dec 18 1,025 $48.43 $49,641
27. Dec 18 Buy Jeffrey Caira Individual 21. Dec 18 21. Dec 18 219 $49.70 $10,895
27. Dec 18 Buy John Schissel Individual 24. Dec 18 24. Dec 18 250 $49.06 $12,265
20. Dec 18 Buy Mark Decker Individual 19. Dec 18 19. Dec 18 500 $51.97 $25,984
18. Dec 18 Buy Linda J. Keller Individual 17. Dec 18 17. Dec 18 400 $51.50 $20,600
17. Dec 18 Buy John Kirchmann Individual 13. Dec 18 14. Dec 18 2,000 $52.60 $104,465
15. Feb 19 Buy John Kirchmann Individual 12. Oct 18 12. Oct 18 139 $53.56 $7,451
25. Sep 18 Buy Emily Nagle Green Individual 21. Sep 18 21. Sep 18 180 $55.70 $10,026
25. Jul 18 Buy John Kirchmann Individual 23. Jul 18 24. Jul 18 703 $53.30 $37,411
24. Jul 18 Buy John Kirchmann Individual 20. Jul 18 20. Jul 18 381 $53.50 $20,394
24. Jul 18 Buy Mark Decker Individual 20. Jul 18 20. Jul 18 65 $53.70 $3,491
17. Jul 18 Buy Mark Decker Individual 16. Jul 18 16. Jul 18 120 $54.20 $6,504
13. Jul 18 Buy John Kirchmann Individual 12. Jul 18 12. Jul 18 1,800 $54.85 $98,730
05. Jul 18 Buy Mark Decker Individual 02. Jul 18 03. Jul 18 900 $55.80 $49,945
X
Management checks
We assess Investors Real Estate Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Investors Real Estate Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

IRET News

Simply Wall St News

Does It Make Sense To Buy Investors Real Estate Trust (NYSE:IRET) For Its Yield?

Dividend paying stocks like Investors Real Estate Trust (NYSE:IRET) tend to be popular with investors, and for good reason - some research shows that a significant amount of all stock market returns come from reinvested dividends. … In this case, Investors Real Estate Trust likely looks attractive to investors, given its 4.8% dividend yield and a payment history of over ten years. … When buying stocks for their dividends, you should always run through the checks below, to see if the dividend looks sustainable.

Simply Wall St -

What Kind Of Shareholder Appears On The Investors Real Estate Trust's (NYSE:IRET) Shareholder Register?

The big shareholder groups in Investors Real Estate Trust (NYSE:IRET) have power over the company. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … With a market capitalization of US$799m, Investors Real Estate Trust is a small cap stock, so it might not be well known by many institutional investors.

Simply Wall St -

Should You Invest In Investors Real Estate Trust (NYSE:IRET)?

Investors Real Estate Trust is a US$772m. … real estate investment trust (REIT) based in Minot, United States. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company.

Simply Wall St -

Investors Real Estate Trust (NYSE:IRET): What Does Its Beta Value Mean For Your Portfolio?

If you're interested in Investors Real Estate Trust (NYSE:IRET), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Did Investors Real Estate Trust (NYSE:IRET) Insiders Buy Up More Shares?

So we'll take a look at whether insiders have been buying or selling shares in Investors Real Estate Trust (NYSE:IRET). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … Investors Real Estate Trust Insider Transactions Over The Last Year.

Simply Wall St -

Is Now An Opportune Moment To Examine Investors Real Estate Trust (NYSE:IRET)?

Investors Real Estate Trust (NYSE:IRET), which is in the reits business, and is based in United States,. … A question to answer is whether Investors Real Estate Trust's current trading price of $4.91 reflective of the actual value of the? … Let’s take a look at Investors Real Estate Trust’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Should You Invest In Investors Real Estate Trust (NYSE:IRET)?

Investors Real Estate Trust is a US$711m. … real estate investment trust (REIT) based in Minot, United States. … Check out our latest analysis for Investors Real Estate Trust.

Simply Wall St -

What Type Of Shareholder Owns Investors Real Estate Trust's (NYSE:IRET)?

A look at the shareholders of Investors Real Estate Trust (NYSE:IRET) can tell us which group is most powerful. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Investors Real Estate Trust is a smaller company with a market capitalization of US$711m, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

Is There Now An Opportunity In Investors Real Estate Trust (NYSE:IRET)?

This high level of volatility gives investors the opportunity to enter into the stock, and potentially buy at an artificially low price? … A question to answer is whether Investors Real Estate Trust's current trading price of $5.47 reflective of the actual value of the? … Check out our latest analysis for Investors Real Estate Trust

Simply Wall St -

One Metric To Rule Them All: Investors Real Estate Trust (NYSE:IRET)

Investors Real Estate Trust is a US$723.60m. … real estate investment trust (REIT) based in Minot, United States. … A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent

Simply Wall St -

IRET Company Info

Description

IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities. As of March 31, 2019, we owned interests in 88 apartment communities consisting of 13,975 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).

Details
Name: Investors Real Estate Trust
IRET
Exchange: NYSE
Founded: 1970
$771,674,343
$697,262,169
13,119,251
Website: http://www.iretapartments.com
Address: Investors Real Estate Trust
1400 31st Avenue SW,
Suite 60,
Minot,
North Dakota, 58702,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE IRET Common Shares New York Stock Exchange US USD 17. Oct 1997
DB WXC1 Common Shares Deutsche Boerse AG DE EUR 17. Oct 1997
NYSE IRET.PRC 6.625% CUM PFD C New York Stock Exchange US USD 26. Sep 2017
Number of employees
Current staff
Staff numbers
416
Investors Real Estate Trust employees.
Industry
Residential REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/22 03:28
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/05/16
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.