Investors Real Estate Trust (IRET) Lifted to “Hold” at Zacks Investment Research

Investors Real Estate Trust (NYSE:IRET) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, February 14th.

According to Zacks, “Investors Real Estate Trust is a real estate investment trust operating in the Midwest. “

Other research analysts also recently issued research reports about the company. Robert W. Baird reaffirmed a “hold” rating and set a $7.00 price target on shares of Investors Real Estate Trust in a research note on Sunday, November 19th. ValuEngine cut Investors Real Estate Trust from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, BidaskClub cut Investors Real Estate Trust from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 31st.

Shares of Investors Real Estate Trust (IRET) opened at $4.80 on Wednesday. Investors Real Estate Trust has a fifty-two week low of $4.73 and a fifty-two week high of $6.75. 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 company has a market capitalization of $579.78, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74.

Investors Real Estate Trust (NYSE:IRET) last released its earnings results on Monday, December 11th. The real estate investment trust reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $53.92 million during the quarter, compared to the consensus estimate of $53.69 million. Investors Real Estate Trust had a negative return on equity of 1.91% and a net margin of 25.90%. Investors Real Estate Trust’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.12 earnings per share. equities research analysts expect that Investors Real Estate Trust will post 0.35 EPS for the current year.

In other news, Director Michael T. Dance purchased 10,000 shares of the stock in a transaction dated Thursday, January 4th. The stock was acquired at an average cost of $5.50 per share, for a total transaction of $55,000.00. Following the acquisition, the director now owns 24,671 shares of the company’s stock, valued at $135,690.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael T. Dance acquired 2,000 shares of the stock in a transaction that occurred on Thursday, January 18th. The shares were bought at an average price of $24.95 per share, with a total value of $49,900.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 90,900 shares of company stock worth $555,335. 1.04% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Investors Real Estate Trust by 67,497.6% in the third quarter. JPMorgan Chase & Co. now owns 304,189 shares of the real estate investment trust’s stock worth $1,856,000 after purchasing an additional 303,739 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in shares of Investors Real Estate Trust in the third quarter worth $510,000. TIAA CREF Investment Management LLC grew its stake in shares of Investors Real Estate Trust by 7.2% in the second quarter. TIAA CREF Investment Management LLC now owns 333,488 shares of the real estate investment trust’s stock worth $2,071,000 after purchasing an additional 22,289 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Investors Real Estate Trust by 9.9% in the third quarter. Wells Fargo & Company MN now owns 1,379,059 shares of the real estate investment trust’s stock worth $8,426,000 after purchasing an additional 123,850 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Investors Real Estate Trust by 2.8% in the second quarter. Northern Trust Corp now owns 2,067,920 shares of the real estate investment trust’s stock worth $12,842,000 after purchasing an additional 56,517 shares in the last quarter. 53.65% of the stock is owned by institutional investors.

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Investors Real Estate Trust Company Profile

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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