Investors Real Estate Trust Reit (NYSE:IRET) Stock Rating Upgraded by Zacks Investment Research

Investors Real Estate Trust Reit (NYSE:IRET) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

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

Other equities analysts also recently issued reports about the stock. BMO Capital Markets restated a “hold” rating and set a $9.50 price objective on shares of Vicon Industries in a research note on Friday, June 14th. ValuEngine raised shares of Zumiez from a “sell” rating to a “hold” rating in a report on Saturday, June 22nd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $64.13.

NYSE:IRET opened at $59.74 on Tuesday. Investors Real Estate Trust Reit has a 1 year low of $46.30 and a 1 year high of $62.24. The firm has a 50 day moving average price of $59.64. 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 capitalization of $705.96 million, a PE ratio of 17.66, a P/E/G ratio of 2.80 and a beta of 0.89.

Investors Real Estate Trust Reit (NYSE:IRET) last issued its earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.54) EPS for the quarter, missing the consensus estimate of $0.86 by ($1.40). The business had revenue of $45.61 million for the quarter, compared to the consensus estimate of $45.08 million. Investors Real Estate Trust Reit had a negative net margin of 5.96% and a negative return on equity of 2.23%. On average, analysts anticipate that Investors Real Estate Trust Reit will post 3.57 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Investors Real Estate Trust Reit during the fourth quarter valued at about $8,449,000. Kennedy Capital Management Inc. lifted its position in shares of Investors Real Estate Trust Reit by 13.6% during the 1st quarter. Kennedy Capital Management Inc. now owns 141,542 shares of the real estate investment trust’s stock valued at $8,480,000 after buying an additional 16,944 shares in the last quarter. Boston Partners lifted its position in shares of Investors Real Estate Trust Reit by 24.8% during the 1st quarter. Boston Partners now owns 97,078 shares of the real estate investment trust’s stock valued at $5,816,000 after buying an additional 19,265 shares in the last quarter. Martingale Asset Management L P lifted its position in shares of Investors Real Estate Trust Reit by 466.8% during the 1st 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 buying an additional 55,252 shares in the last quarter. Finally, Virginia Retirement Systems ET AL raised its stake in Investors Real Estate Trust Reit by 127.2% in the 1st quarter. Virginia Retirement Systems ET AL now owns 21,610 shares of the real estate investment trust’s stock valued at $1,295,000 after purchasing an additional 12,100 shares during the last quarter. 61.67% of the stock is owned by hedge funds and other 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 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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