Investors Real Estate Trust Reit (NYSE:IRET) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Investors Real Estate Trust Reit (NYSE:IRET) from a hold rating to a sell rating in a research report sent to investors on Wednesday, Zacks.com reports.

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

Several other research analysts also recently commented on IRET. BMO Capital Markets reissued a hold rating and issued a $9.50 target price on shares of Vicon Industries in a report on Friday, June 14th. ValuEngine upgraded Zumiez from a sell rating to a hold rating in a report on Saturday, June 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $64.13.

Shares of Investors Real Estate Trust Reit stock opened at $60.31 on Wednesday. The firm’s fifty day simple moving average is $59.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.50. The company has a market cap of $707.37 million, a P/E ratio of 17.70, a P/E/G ratio of 2.81 and a beta of 0.89. Investors Real Estate Trust Reit has a 1-year low of $46.30 and a 1-year high of $62.24.

Investors Real Estate Trust Reit (NYSE:IRET) last released its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($1.40). Investors Real Estate Trust Reit had a negative net margin of 5.96% and a negative return on equity of 2.23%. The firm had revenue of $45.61 million for the quarter, compared to analyst estimates of $45.08 million. Equities research analysts predict that Investors Real Estate Trust Reit will post 3.57 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend was Friday, June 14th.

A number of institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Investors Real Estate Trust Reit in the 4th quarter worth $8,449,000. Martingale Asset Management L P lifted its holdings in Investors Real Estate Trust Reit by 466.8% during the first quarter. Martingale Asset Management L P now owns 67,088 shares of the real estate investment trust’s stock valued at $4,020,000 after purchasing an additional 55,252 shares in the last quarter. Boston Partners lifted its holdings in Investors Real Estate Trust Reit by 24.8% during the first quarter. Boston Partners now owns 97,078 shares of the real estate investment trust’s stock valued at $5,816,000 after purchasing an additional 19,265 shares in the last quarter. Nordea Investment Management AB purchased a new position in shares of Investors Real Estate Trust Reit in the fourth quarter worth $900,000. Finally, Kennedy Capital Management Inc. increased its position in Investors Real Estate Trust Reit by 13.6% in the first quarter. Kennedy Capital Management Inc. now owns 141,542 shares of the real estate investment trust’s stock worth $8,480,000 after purchasing an additional 16,944 shares during the last quarter. 61.57% of the stock is currently owned by institutional investors and hedge funds.

Investors Real Estate Trust Reit Company Profile

IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities. As of December 31, 2018, IRET owned interests in 87 apartment communities consisting of 13,702 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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