BlackRock Inc. Buys 353,461 Shares of Investors Real Estate Trust Reit (IRET)

BlackRock Inc. raised its stake in shares of Investors Real Estate Trust Reit (NYSE:IRET) by 3.3% in the second quarter, Holdings Channel reports. The institutional investor owned 10,931,896 shares of the real estate investment trust’s stock after acquiring an additional 353,461 shares during the period. BlackRock Inc. owned about 0.09% of Investors Real Estate Trust Reit worth $60,453,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Swiss National Bank raised its stake in shares of Investors Real Estate Trust Reit by 4.8% during the 1st quarter. Swiss National Bank now owns 210,000 shares of the real estate investment trust’s stock valued at $1,090,000 after buying an additional 9,600 shares during the last quarter. A.R.T. Advisors LLC increased its stake in shares of Investors Real Estate Trust Reit by 24.6% in the 1st quarter. A.R.T. Advisors LLC now owns 61,700 shares of the real estate investment trust’s stock valued at $320,000 after purchasing an additional 12,200 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Investors Real Estate Trust Reit by 82.8% in the 2nd quarter. SG Americas Securities LLC now owns 33,104 shares of the real estate investment trust’s stock valued at $183,000 after purchasing an additional 14,990 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Investors Real Estate Trust Reit by 167.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 29,190 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 18,257 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of Investors Real Estate Trust Reit by 44.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 59,900 shares of the real estate investment trust’s stock valued at $310,000 after purchasing an additional 18,422 shares in the last quarter. Institutional investors and hedge funds own 57.08% of the company’s stock.

Shares of Investors Real Estate Trust Reit stock opened at $5.34 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.15. Investors Real Estate Trust Reit has a twelve month low of $4.61 and a twelve month high of $6.34. The stock has a market capitalization of $714.65 million, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 2.85 and a beta of 0.72.

Investors Real Estate Trust Reit (NYSE:IRET) last announced its quarterly earnings results on Monday, September 10th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.07). Investors Real Estate Trust Reit had a net margin of 69.92% and a negative return on equity of 4.92%. The business had revenue of $45.95 million during the quarter, compared to analysts’ expectations of $44.94 million. Analysts forecast that Investors Real Estate Trust Reit will post 0.35 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Monday, September 17th were paid a $0.07 dividend. The ex-dividend date was Friday, September 14th. This represents a $0.28 annualized dividend and a dividend yield of 5.24%. Investors Real Estate Trust Reit’s dividend payout ratio is presently 73.68%.

IRET has been the subject of several recent analyst reports. Zacks Investment Research upgraded Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a research note on Thursday, September 13th. Boenning Scattergood initiated coverage on Investors Real Estate Trust Reit in a research note on Monday, September 17th. They issued a “neutral” rating for the company. Finally, Robert W. Baird upgraded Investors Real Estate Trust Reit from a “neutral” rating to an “outperform” rating in a research note on Tuesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Investors Real Estate Trust Reit currently has an average rating of “Hold” and a consensus target price of $6.00.

About Investors Real Estate Trust Reit

IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities. As of April 30, 2018, IRET owned interests in 90 apartment communities consisting of 14,176 apartment homes. IRET's common shares and Series C preferred shares are publicly traded on the New York Stock Exchange (NYSE symbols: IRET and IRET PRC, respectively).

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Institutional Ownership by Quarter for Investors Real Estate Trust Reit (NYSE:IRET)

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