SwingTrade Member Forum

[SSKILLZ1]

IRT

Brought some IRT Around $9.35. Yes they sold some shares but here is what I like.

1) Analyst estimates are for .92 for fy 15, I basically concur with that analysis. I believe they should trade at 12-13 times estimates. Hence a 12.5 multiple get us too $11.50

2) divy yield current 7.7% or so. Divy also gets paid monthly.

3) I got to buyer cheaper then the offering price. Which I feel is a good deal.

4) Core FFO was .17 last quarter, but that didn't take account for ther purchases hence I expect FFO to go up a bit in q4. Eventually the money they acquired here will help them close on additional building which eventually will be accretive after they buy them.

Conclusion: I like IRT around $9.35, think it has some upside. In the meantime I will collect almost 8%. All is just my opinion, and I could always be wrong though.