Acquisitions are key for this REIT to grow its equity valuation and could be a positive catalyst for FFO growth, proving that even smaller REITs that depend on acquisitions to grow their real estate portfolio can afford to pay a much higher dividend than the typical, larger REIT. This small equity value REIT is growing fast. It handsomely covers its dividend payout with core funds from operations and sells for ~10.3x Q3-16 run-rate core FFO. An investment in it yields 8.29 percent.
Independence Realty Trust's (NYSEMKT:IRT) shares have sold off lately as part of a wider sector correction. However, the REIT produces good results, and aggressively grows its property portfolio in the United States. Independence Realty Trust offers the right mix of high income covered by core funds from operations and capital upside. IRT sells cheaply and pays an 8% dividend on a monthly payment schedule.
Source: Seeking Alpha
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