Financial performance
INREIT has remained keenly focused on making sure our debt maturities are well-laddered. Our portfolio performed well thanks to a solid operating platform, strong assets and moderate leverage. We have a long-term investment horizon, so we invest in properties with favorable long-term fundamentals.
We have diversified our investments amongst property types and locations to reduce concentration risk and economic downturns. See our property portfolio.
Unlike so many companies in the real estate sector and elsewhere, we have not borrowed beyond our capacity to meet our repayment obligations. We resisted the temptation to overextend or to acquire properties with short-term financing. As a result, we do not need to sell properties to meet debt repayment obligations.
Performance reports
Shareholder Dividends
INREIT increased its dividends in 2010 to 77 cents per share, annualized, an increase of 2.5 cents per share from one year ago. INREIT paid quarterly distributions to shareholders and limited partners during 2009 at a rate of 18.625 cents per quarter, for a total of $9,275,000 in dividends/distributions to its shareholders and limited partners.
Portfolio Analysis
Diversification drives our strength, helping us manage risk, grow cash flow and buffer against market and economic fluctuations. Our portfolio is diversified by geography, tenant-operator and asset type. This portfolio mix has enabled us to maintain and increase our cash flow despite downturns in the economy. Our concentration in North Dakota properties has provided stable to increasing returns to our portfolio.
Graph illustrates portfolio as of 12/31/2009.
