Zacks Investment Research upgraded shares of Investors Real Estate Trust (NYSE:IRET) from a sell rating to a hold rating in a research note released on Wednesday morning.
According to Zacks, “Investors Real Estate Trust is a real estate investment trust operating in the Midwest. “
A number of other analysts have also weighed in on the stock. ValuEngine lowered shares of Investors Real Estate Trust from a buy rating to a hold rating in a research note on Friday, February 2nd. BidaskClub lowered shares of Investors Real Estate Trust from a hold rating to a sell rating in a research note on Wednesday, October 25th. Finally, Robert W. Baird restated a hold rating and set a $7.00 price objective on shares of Investors Real Estate Trust in a research note on Sunday, November 19th.
Shares of Investors Real Estate Trust (IRET) opened at $5.05 on Wednesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market capitalization of $685.05, a P/E ratio of -29.71, a P/E/G ratio of 2.39 and a beta of 0.75. Investors Real Estate Trust has a 1-year low of $4.87 and a 1-year high of $6.75.
Investors Real Estate Trust (NYSE:IRET) last issued its quarterly earnings results on Monday, December 11th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The company had revenue of $53.92 million during the quarter, compared to analyst estimates of $53.69 million. Investors Real Estate Trust had a net margin of 25.90% and a negative return on equity of 1.91%. Investors Real Estate Trust’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $0.12 EPS. analysts forecast that Investors Real Estate Trust will post 0.35 earnings per share for the current year.
In other news, Director Jeffrey Caira acquired 45,000 shares of Investors Real Estate Trust stock in a transaction on Thursday, December 14th. The stock was acquired at an average cost of $5.79 per share, for a total transaction of $260,550.00. Following the purchase, the director now owns 102,807 shares in the company, valued at $595,252.53. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael T. Dance acquired 10,000 shares of Investors Real Estate Trust stock in a transaction on Thursday, January 4th. The shares were purchased at an average price of $5.50 per share, with a total value of $55,000.00. Following the completion of the purchase, the director now owns 24,671 shares in the company, valued at approximately $135,690.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 90,900 shares of company stock valued at $555,335. 1.04% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new stake in shares of Investors Real Estate Trust in the fourth quarter worth approximately $108,000. BlueCrest Capital Management Ltd purchased a new position in shares of Investors Real Estate Trust in the second quarter worth approximately $126,000. Aperio Group LLC boosted its holdings in shares of Investors Real Estate Trust by 86.4% in the third quarter. Aperio Group LLC now owns 28,150 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 13,052 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Investors Real Estate Trust by 68.8% in the third quarter. SG Americas Securities LLC now owns 30,118 shares of the real estate investment trust’s stock worth $184,000 after buying an additional 12,280 shares during the last quarter. Finally, Stockman Wealth Management Inc. purchased a new position in shares of Investors Real Estate Trust in the fourth quarter worth approximately $185,000. Hedge funds and other institutional investors own 53.83% of the company’s stock.
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About Investors Real Estate Trust
Investors Real Estate Trust is a self-advised equity real estate investment trust (REIT). The Company’s business consists of owning and operating income-producing real estate properties. Its segments include Multifamily, Healthcare and All Other. Its investments consist of multifamily and healthcare properties located primarily in the upper Midwest states of Minnesota and North Dakota.
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