Investors Real Estate Trust Reit (IRET) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of Investors Real Estate Trust Reit (NYSE:IRET) from a hold rating to a buy rating in a report published on Monday morning.

IRET has been the topic of several other research reports. Robert W. Baird raised shares of Investors Real Estate Trust Reit from a neutral rating to an outperform rating in a research report on Tuesday, September 25th. Zacks Investment Research raised shares of Investors Real Estate Trust Reit from a sell rating to a hold rating in a research report on Thursday, September 6th. Finally, Boenning Scattergood reaffirmed a hold rating on shares of Investors Real Estate Trust Reit in a report on Tuesday, December 11th.

Shares of IRET opened at $5.13 on Monday. The stock has a market cap of $626.08 million, a PE ratio of 13.50, a price-to-earnings-growth ratio of 2.46 and a beta of 0.76. Investors Real Estate Trust Reit has a 1 year low of $4.61 and a 1 year high of $6.00. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.64 and a current ratio of 0.64.

Investors Real Estate Trust Reit (NYSE:IRET) last issued its quarterly earnings results on Monday, December 10th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The business had revenue of $45.64 million for the quarter, compared to analysts’ expectations of $45.26 million. Investors Real Estate Trust Reit had a net margin of 63.45% and a negative return on equity of 5.78%. As a group, analysts predict that Investors Real Estate Trust Reit will post 0.36 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be issued a $0.07 dividend. The ex-dividend date is Monday, December 31st. This represents a $0.28 annualized dividend and a yield of 5.46%. Investors Real Estate Trust Reit’s dividend payout ratio (DPR) is 73.68%.

In other news, CFO John Kirchmann bought 19,995 shares of Investors Real Estate Trust Reit stock in a transaction that occurred on Friday, December 14th. The shares were purchased at an average price of $5.22 per share, with a total value of $104,373.90. Following the completion of the acquisition, the chief financial officer now directly owns 62,391 shares in the company, valued at $325,681.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders purchased 23,186 shares of company stock worth $121,856. 0.85% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new stake in Investors Real Estate Trust Reit during the third quarter worth approximately $117,000. Tower Research Capital LLC TRC raised its holdings in Investors Real Estate Trust Reit by 1,853.1% during the second quarter. Tower Research Capital LLC TRC now owns 21,484 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 20,384 shares in the last quarter. Jane Street Group LLC raised its holdings in Investors Real Estate Trust Reit by 80.8% during the third quarter. Jane Street Group LLC now owns 20,970 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 9,373 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Investors Real Estate Trust Reit by 67.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,346 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 9,371 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Investors Real Estate Trust Reit by 167.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 29,190 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 18,257 shares in the last quarter. 57.48% of the stock is currently owned by institutional investors.

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 July 31, 2018, we owned interests in 87 apartment communities consisting of 13,703 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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