Investors Real Estate Trust (IRET) Expected to Announce Quarterly Sales of $53.06 Million

Brokerages predict that Investors Real Estate Trust (NYSE:IRET) will announce $53.06 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Investors Real Estate Trust’s earnings. The highest sales estimate is $53.34 million and the lowest is $52.78 million. Investors Real Estate Trust reported sales of $50.61 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.8%. The firm is scheduled to report its next earnings report on Monday, December 11th.

On average, analysts expect that Investors Real Estate Trust will report full year sales of $53.06 million for the current fiscal year, with estimates ranging from $211.93 million to $212.81 million. For the next year, analysts anticipate that the business will post sales of $214.93 million per share, with estimates ranging from $211.74 million to $218.11 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Investors Real Estate Trust.

Investors Real Estate Trust (NYSE:IRET) last released its earnings results on Monday, September 11th. The real estate investment trust reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. Investors Real Estate Trust had a net margin of 25.72% and a return on equity of 0.11%. The business had revenue of $52.70 million during the quarter, compared to analyst estimates of $50.76 million. During the same period in the prior year, the business earned $0.12 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis.

IRET has been the subject of several recent research reports. BidaskClub lowered shares of Investors Real Estate Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Zacks Investment Research raised shares of Investors Real Estate Trust from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. ValuEngine raised shares of Investors Real Estate Trust from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Finally, Robert W. Baird reissued a “hold” rating and set a $7.00 target price on shares of Investors Real Estate Trust in a research note on Sunday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Investors Real Estate Trust has a consensus rating of “Hold” and a consensus target price of $6.67.

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Investors Real Estate Trust by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 19,554,774 shares of the real estate investment trust’s stock valued at $115,960,000 after acquiring an additional 340,851 shares in the last quarter. State Street Corp lifted its position in shares of Investors Real Estate Trust by 5.4% in the 2nd quarter. State Street Corp now owns 2,778,387 shares of the real estate investment trust’s stock valued at $17,253,000 after acquiring an additional 142,589 shares in the last quarter. Northern Trust Corp lifted its position in shares of Investors Real Estate Trust by 2.8% in the 2nd quarter. Northern Trust Corp now owns 2,067,920 shares of the real estate investment trust’s stock valued at $12,842,000 after acquiring an additional 56,517 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Investors Real Estate Trust by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,840,762 shares of the real estate investment trust’s stock valued at $11,247,000 after acquiring an additional 21,246 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Investors Real Estate Trust by 9.9% in the 3rd quarter. Wells Fargo & Company MN now owns 1,379,059 shares of the real estate investment trust’s stock valued at $8,426,000 after acquiring an additional 123,850 shares in the last quarter. Institutional investors and hedge funds own 53.48% of the company’s stock.

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Investors Real Estate Trust (IRET) traded up $0.05 during mid-day trading on Monday, reaching $5.95. 213,567 shares of the company traded hands, compared to its average volume of 446,895. Investors Real Estate Trust has a fifty-two week low of $5.60 and a fifty-two week high of $7.28. The firm has a market capitalization of $711.46, a price-to-earnings ratio of 13.11, a PEG ratio of 2.47 and a beta of 0.80. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.04.

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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