DA Davidson Maintains a 'Neutral' on Investors Real Estate Trust (IRET); Fiscal 2012 May Be Fourth Annual Decline in FFO Per Share

DA Davidson maintains a 'Neutral' on Investors Real Estate Trust (NASDAQ: IRET), PT lowered from $9.00 to $8.75.

DA analyst says, "FFO fell short of our expectations...Management doesn’t envision much revenue growth in new fiscal year...Liquidity appears adequate...Due to a sluggish rebound implied in the company’s dividend reduction plan, we are lowering our fiscal 2012 per share FFO estimate of $0.67 to $0.60, and initiating a fiscal 2013 forecast of $0.64."

For more ratings news on Investors Real Estate Trust click here and for the rating history of Investors Real Estate Trust click here.

Shares of Investors Real Estate Trust closed at $8.23 yesterday.

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