BidaskClub Downgrades Investors Real Estate Trust (IRET) to Sell

Investors Real Estate Trust (NYSE:IRET) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

IRET has been the topic of a number of other research reports. Zacks Investment Research lowered Investors Real Estate Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, April 4th. ValuEngine lowered Investors Real Estate Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $6.51.

Shares of Investors Real Estate Trust (NYSE:IRET) traded up 0.64% during trading on Friday, reaching $6.29. The company’s stock had a trading volume of 354,650 shares. The firm has a market cap of $758.71 million, a PE ratio of 24.19 and a beta of 0.80. Investors Real Estate Trust has a 12 month low of $5.60 and a 12 month high of $7.28. The company’s 50 day moving average price is $6.21 and its 200 day moving average price is $6.20.

Investors Real Estate Trust (NYSE:IRET) last released its quarterly earnings results on Wednesday, June 28th. The real estate investment trust reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Investors Real Estate Trust had a negative return on equity of 2.51% and a net margin of 21.07%. The firm had revenue of $54.34 million for the quarter, compared to analyst estimates of $51.36 million. During the same quarter in the previous year, the company posted $0.14 EPS. The business’s revenue was up 12.0% on a year-over-year basis. On average, equities analysts predict that Investors Real Estate Trust will post ($0.01) earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Investors Real Estate Trust by 9.3% in the fourth quarter. State Street Corp now owns 2,469,628 shares of the real estate investment trust’s stock valued at $17,607,000 after buying an additional 209,766 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Investors Real Estate Trust by 4.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 27,138 shares of the real estate investment trust’s stock valued at $161,000 after buying an additional 1,248 shares during the last quarter. Stephens Inc. AR raised its stake in shares of Investors Real Estate Trust by 1.3% in the first quarter. Stephens Inc. AR now owns 299,555 shares of the real estate investment trust’s stock valued at $1,776,000 after buying an additional 3,719 shares during the last quarter. Swiss National Bank raised its stake in shares of Investors Real Estate Trust by 3.9% in the first quarter. Swiss National Bank now owns 200,400 shares of the real estate investment trust’s stock valued at $1,188,000 after buying an additional 7,500 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Investors Real Estate Trust by 34.8% in the first quarter. US Bancorp DE now owns 170,584 shares of the real estate investment trust’s stock valued at $1,011,000 after buying an additional 43,995 shares during the last quarter. Institutional investors own 52.94% of the company’s stock.

About Investors Real Estate Trust

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.