Inland Real Estate Corporation (NYSE:IRC) has successfully paid its common and preferred stockholders their November cash dividends and declared payouts for December as well. As per the details, IRC paid $0.0475 per share on outstanding shares to the common stockholders and $0.169271 per share to the preferred stockholders. The payouts would constitute the same amount for December as well. Additionally, the company chairman, Daniel L. Goodwin has received a lifetime achievement award from the Investment Program Association.
CEO of IPA, Kevin Hogan, stated that the IPA runs on the ideals of leading the direct investment industry through collaboration, advocacy and education. He further stressed that Dan was the perfect example of these ideals, which are visible in his personal and professional life. Currently, the IRC and its affiliates have $21 billion in capital, with a total of 690 investment programs. Inland is also recognized as one of the largest real-estate and investment groups in the US. Additionally, the company is the only one of its kind to have won the “Better Business Bureau Torch Award” twice. The award was acquired on the basis of marketplace ethics.
However, Inland has been attracting some negative reviews from analysts, most of whom have awarded the stock a hold rating, with just 1 Wall Street analyst stating the stock as a strong buy. This was despite the fact that for the 3Q2015 the company reported an increase of 4.2% in its Funds From Operations per share. Additionally, the quarter also saw substantial leasing activity for the company. However, the net operating income suffered a loss of 0.6%, which the CEO, Mark Zalatoris, stated was due to the asset improvement initiatives during the quarter. The highlight of the 3Q2015 was the sale of three retail centers by the company for a price of $34.3 million.
Inland Real Estate Corporation (NYSE:IRC) closed at $9.52, after having a trade volume of 0.00 during the December 3 session. The stock suffered a loss of 1.96% during the session.
