I don't trust yahoo finance but it's better than most financial websites. Some won't even post the div or yield.
I did look at their website and in 2011 they did drop from 17 cents to under 10 cents. That adds up over time. Back when this stock traded in the mid $9s, the div was near 8%, so now that the stock is down nearly 50%, the div is nearly the same. At some point the preferred stock might be better for div and protection.
I agree with the other posts, the Williston oil bust will hurt ND including the Minot and MN areas. But IRET made a big mistake buying rental units and other commercial properties in Williston when oil was around the top as the market was showing signs of a significant drop in oil futures.
I strongly disagree with IRET recently divesting & selling medical, senior care & student facilities & other properties. They need to increase rental income from opportunities from other places than just residential & commercial real estate. Going all in on this is too narrow a focus. I prefer diversity including in different geos. Right now IRET I believe is only owning properties in 3 or 4 states.
Acquired one healthcare property and 743 multifamily units at six properties, for a total purchase price of $143.5 million
Disposed of 8 student housing properties, 40 office properties, 2 healthcare properties, 18 retail properties and 3 parcels of unimproved land for a total sales price of $414.1 million and transferred ownership of 9 office properties pursuant to a deed in lieu transaction
Acquired 393 multifamily units at four properties in Rochester, MN, for a total purchase price of $71.8 million
Placed into service two multifamily development projects, containing 414 units, and representing aggregate investment of $74.6 million
Disposed of eight student housing properties, one healthcare property, one retail property and one parcel of unimproved land for sales prices totaling $31.8M.