Investors Real Estate Trust (NYSE:IRET) reported weak earnings and funds from operations (FFO) for Q1 of fiscal year 2017 while reiterating its FFO guidance for the fiscal year. FFO per share was $0.12, down from last fiscal year’s $0.16. Net loss was $0.20 per diluted share versus a net income of $0.01 per diluted share for the same year-ago period. For fiscal year 2017, the company still expects FFO of $0.48 to $0.54 per diluted share. The company will be paying a regular quarterly dividend of $0.13 per common share on Oct. 3 to shareholders of record on Sept. 15.
About 1.13M shares traded hands or 111.92% up from the average. Investors Real Estate Trust (NYSE:IRET) has declined 4.00% since February 8, 2016 and is downtrending. It has underperformed by 20.49% the S&P500.
Investors Real Estate Trust is a self-advised equity real estate investment trust . The company has a market cap of $693.03 million. The Company’s business consists of owning and operating income-producing real estate properties. It currently has negative earnings. The Company’s divisions include Multifamily, Healthcare and All Other.
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