INDUS Realty Trust, Inc. (NASDAQ:INDT) Declares Quarterly Dividend of $0.16

INDUS Realty Trust, Inc. (NASDAQ:INDTGet Rating) announced a quarterly dividend on Monday, June 13th, Zacks reports. Stockholders of record on Thursday, June 30th will be given a dividend of 0.16 per share on Friday, July 15th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Wednesday, June 29th.

NASDAQ INDT opened at $57.73 on Wednesday. INDUS Realty Trust has a 1-year low of $55.92 and a 1-year high of $82.94. The company has a 50 day moving average of $67.58 and a 200-day moving average of $73.38. The company has a market cap of $588.04 million, a price-to-earnings ratio of 42.45 and a beta of 0.85.

In related news, EVP Jon W. Clark bought 1,000 shares of the firm’s stock in a transaction on Tuesday, June 14th. The shares were purchased at an average price of $56.48 per share, with a total value of $56,480.00. Following the completion of the purchase, the executive vice president now owns 1,000 shares in the company, valued at approximately $56,480. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Ccp Sbs Gp, Llc bought 7,127 shares of the firm’s stock in a transaction on Wednesday, May 4th. The shares were bought at an average cost of $71.51 per share, for a total transaction of $509,651.77. Following the purchase, the insider now owns 733,474 shares of the company’s stock, valued at approximately $52,450,725.74. The disclosure for this purchase can be found here. Insiders purchased 92,312 shares of company stock worth $6,620,658 over the last three months. 25.00% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of INDT. Morgan Stanley bought a new stake in shares of INDUS Realty Trust during the first quarter worth $103,000. Royal Bank of Canada grew its stake in shares of INDUS Realty Trust by 533.2% in the second quarter. Royal Bank of Canada now owns 1,963 shares of the company’s stock worth $129,000 after purchasing an additional 1,653 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of INDUS Realty Trust in the second quarter worth $206,000. Bank of New York Mellon Corp grew its stake in shares of INDUS Realty Trust by 8.0% in the third quarter. Bank of New York Mellon Corp now owns 15,915 shares of the company’s stock worth $1,116,000 after purchasing an additional 1,176 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of INDUS Realty Trust by 637.4% in the fourth quarter. Bank of America Corp DE now owns 2,463 shares of the company’s stock worth $199,000 after purchasing an additional 2,129 shares during the last quarter. 66.78% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on INDT. Colliers Securities began coverage on shares of INDUS Realty Trust in a research note on Tuesday, May 24th. They issued a “neutral” rating and a $70.00 price objective on the stock. JMP Securities decreased their price objective on shares of INDUS Realty Trust from $85.00 to $81.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 18th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, INDUS Realty Trust currently has a consensus rating of “Buy” and an average price target of $80.50.

About INDUS Realty Trust (Get Rating)

INDUS Realty Trust, Inc is a real estate business principally engaged in developing, acquiring, managing and leasing industrial/warehouse properties. INDUS owns 41 buildings totaling approximately 4.6 million square feet (4.2 million of which is industrial/warehouse space) in Connecticut, Pennsylvania, North Carolina and Florida in addition to over 3,400 acres of undeveloped land.

See Also

Dividend History for INDUS Realty Trust (NASDAQ:INDT)

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