Investors Real Estate Trust (IRET)
Real estate investment trusts (REITs) have garnered much attention from investors seeking income in our low interest rate environment. Energy investors may want to hone in on them as well. Specifically, Investors Real Estate Trust (IRET).
That’s because IRET is focused on the upper Mid-West and North Dakota putting it right in the center of Bakken shale country. In fact, its corporate office is the next county over from the epicenter of the Bakken boom.
Overall, IRET owns and manages a diversified portfolio of apartments, commercial and medical office buildings, senior housing facilities, retail centers, and industrial properties. High incomes and housing demand from the Bakken — from both rig workers and land-owners has helped IRET realize plenty of cash flows and rising rents from its stable of properties.
Those cash flows have been flowing back to IRET stock investors since 1971 as dividends. Currently, IRET yields a 6.1%. But, built on the back of strong apartment demand in North Dakota, IRET stock should be able to raise its payout in the future.