Ex-Dividends To Watch: 3 Stocks Going Ex-Dividend Tomorrow: IRT, BXMT, AXS

Tomorrow, Tuesday, June 28, 2016, 130 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.4% to 18.2%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Independence Realty

Owners of Independence Realty (AMEX: IRT) shares, as of market close today, will be eligible for a dividend of 6 cents per share. At a price of $7.70 as of 9:41 a.m. ET, the dividend yield is 9.3%.

The average volume for Independence Realty has been 278,300 shares per day over the past 30 days. Independence Realty has a market cap of $365.9 million and is part of the real estate industry. Shares are up 2% year-to-date as of the close of trading on Friday.

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Independence Realty Trust, Inc is an equity real estate investment trust launched by RAIT Financial Trust. It is managed by Independence Realty Advisors, LLC. The fund invests in the real estate markets of the United States. It makes investments in apartment properties to create its portfolio. The company has a P/E ratio of 9.76.

TheStreet Ratings rates Independence Realty as a sell. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow and poor profit margins. You can view the full Independence Realty Ratings Report now.

Blackstone Mortgage

Owners of Blackstone Mortgage (NYSE: BXMT) shares, as of market close today, will be eligible for a dividend of 62 cents per share. At a price of $27.36 as of 9:41 a.m. ET, the dividend yield is 8.8%.

The average volume for Blackstone Mortgage has been 479,300 shares per day over the past 30 days. Blackstone Mortgage has a market cap of $2.6 billion and is part of the real estate industry. Shares are up 2.9% year-to-date as of the close of trading on Friday.

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Blackstone Mortgage Trust, Inc., a real estate finance company, originates and purchases senior loans collateralized by properties in North America and Europe. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. The company has a P/E ratio of 11.58.

TheStreet Ratings rates Blackstone Mortgage as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, attractive valuation levels and expanding profit margins. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year. You can view the full Blackstone Mortgage Ratings Report now.

Axis Capital Holdings

Owners of Axis Capital Holdings (NYSE: AXS) shares, as of market close today, will be eligible for a dividend of 35 cents per share. At a price of $51.88 as of 9:40 a.m. ET, the dividend yield is 2.6%.

The average volume for Axis Capital Holdings has been 488,900 shares per day over the past 30 days. Axis Capital Holdings has a market cap of $5.0 billion and is part of the insurance industry. Shares are down 6.6% year-to-date as of the close of trading on Friday.

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AXIS Capital Holdings Limited, together with its subsidiaries, provides specialty lines insurance and treaty reinsurance products worldwide. The company operates through Insurance and Reinsurance segments. The company has a P/E ratio of 11.01.

TheStreet Ratings rates Axis Capital Holdings as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and good cash flow from operations. We feel its strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. You can view the full Axis Capital Holdings Ratings Report now.

More About Dividends:

One benefit of owning a stock is the potential that you will be paid a dividend. The distribution of dividend payments is another way for a company to share its profit with you. A dividend means that the company pays you a certain amount of money, either as a one-time payment or more commonly on a quarterly basis, for each share of stock you own.

Many times, dividends come at the expense of greater price appreciation, because the company is distributing its profits to shareholders rather than reinvesting the profits back into the growth of the company. However, companies that pay dividends can be very attractive to investors when they offer a steady stream of income. There are some important terms and dates an investor should be familiar with before purchasing any dividend-paying companies. Let's work through an example to help better explain some of these terms:

On March 1, ABC Widget Company has decided that because it holds excess cash and lacks investment opportunities, it would like to reward shareholders with a regular quarterly dividend payment. The date for this particular announcement is known as the declaration date. It is on this date that the company announces the specific dividend payment along with the holder-of-record date (aka record date) and the payment date. The company announces that a dividend payment of 25 cents per share will be payable March 31, 2012 (the payment date) to all shareholders of record at the close of business on March 16, 2012 (holder-of-record date). What does this all mean? Well the short story is that the company looks at its records on March 16 and anyone listed on the books as an owner of ABC Widget company will be eligible for the dividend payment (on March 31).

The one other important term to remember is the ex-dividend date. The ex-dividend date (typically two trading days before the holder-of-record date for U.S. securities) is the day in which a company begins trading without the dividend. In order to have a claim on a dividend, shares must be purchased no later than the last business day before the ex-dividend date. A company trading ex-dividend will have the upcoming dividend subtracted from the share price at the start of the trading day. Many times, the price of a stock will increase in anticipation of the upcoming dividend as the ex-dividend date approaches, yet will fall back by the amount of the dividend on the ex-dividend date.

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