The Investors Real Estate Trust (IRET) Upgraded at Zacks Investment Research

The Investors Real Estate Trust (IRET) Upgraded 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 issued on Wednesday.

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

Other analysts have also recently issued reports about the company. Robert W. Baird cut Investors Real Estate Trust from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $8.00 to $7.00 in a research note on Thursday, July 7th. Wunderlich lowered their target price on Investors Real Estate Trust from $7.50 to $6.75 and set a “hold” rating for the company in a research note on Friday, July 1st. DA Davidson lowered their target price on Investors Real Estate Trust from $7.00 to $6.05 and set a “buy” rating for the company in a research note on Monday, September 12th. Finally, Janney Montgomery Scott assumed coverage on Investors Real Estate Trust in a research note on Tuesday, August 23rd. They set a “buy” rating and a $7.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $6.45.

Investors Real Estate Trust (NYSE:IRET) traded up 1.23% during trading on Wednesday, hitting $5.74. 691,045 shares of the stock were exchanged. Investors Real Estate Trust has a 1-year low of $5.60 and a 1-year high of $8.39. The stock has a market cap of $697.59 million, a price-to-earnings ratio of 22.87 and a beta of 0.75. The firm’s 50 day moving average price is $6.12 and its 200-day moving average price is $6.42.

Investors Real Estate Trust (NYSE:IRET) last announced its quarterly earnings results on Thursday, September 8th. The real estate investment trust reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. The company earned $49.60 million during the quarter, compared to analysts’ expectations of $48.74 million. Investors Real Estate Trust had a negative return on equity of 1.83% and a net margin of 22.23%. Investors Real Estate Trust’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS. On average, analysts anticipate that Investors Real Estate Trust will post $0.47 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 9.06%. The ex-dividend date of this dividend was Tuesday, September 13th. Investors Real Estate Trust’s dividend payout ratio (DPR) is currently 185.71%.

In other news, insider Mark Okey Decker, Jr. purchased 45,900 shares of Investors Real Estate Trust stock in a transaction on Tuesday, September 13th. The stock was purchased at an average price of $5.87 per share, with a total value of $269,433.00. Following the transaction, the insider now directly owns 89,449 shares in the company, valued at approximately $525,065.63. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Timothy P. Mihalick purchased 22,500 shares of Investors Real Estate Trust stock in a transaction on Thursday, October 6th. The shares were purchased at an average cost of $5.73 per share, with a total value of $128,925.00. Following the transaction, the chief executive officer now owns 318,409 shares in the company, valued at $1,824,483.57. The disclosure for this purchase can be found here. Company insiders own 1.34% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the company. National Planning Corp increased its position in Investors Real Estate Trust by 7.8% in the first quarter. National Planning Corp now owns 16,210 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 1,168 shares during the period. Teacher Retirement System of Texas increased its stake in Investors Real Estate Trust by 11.7% in the second quarter. Teacher Retirement System of Texas now owns 17,220 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 1,805 shares during the last quarter. Advisor Group Inc. bought a new stake in Investors Real Estate Trust during the second quarter valued at approximately $128,000. Quantitative Systematic Strategies LLC increased its stake in Investors Real Estate Trust by 8.6% in the second quarter. Quantitative Systematic Strategies LLC now owns 22,720 shares of the real estate investment trust’s stock valued at $149,000 after buying an additional 1,803 shares during the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. increased its stake in Investors Real Estate Trust by 1.3% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 23,499 shares of the real estate investment trust’s stock valued at $152,000 after buying an additional 302 shares during the last quarter. 48.72% of the stock is owned by hedge funds and other institutional investors.

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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