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

Zacks Investment Research cut shares of Investors Real Estate Trust (NYSE:IRET) from a hold rating to a sell rating in a report issued on Tuesday, January 16th.

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

Several other brokerages also recently issued reports on IRET. BidaskClub downgraded shares of Investors Real Estate Trust from a hold rating to a sell rating in a research report on Wednesday, October 25th. ValuEngine downgraded shares of Investors Real Estate Trust from a buy rating to a hold rating in a research report on Friday, September 22nd. Finally, Robert W. Baird reiterated a hold rating and set a $7.00 price target on shares of Investors Real Estate Trust in a research report on Sunday, November 19th.

Shares of Investors Real Estate Trust (NYSE IRET) traded up $0.06 during trading on Tuesday, hitting $5.11. 392,505 shares of the stock were exchanged, compared to its average volume of 451,467. Investors Real Estate Trust has a twelve month low of $5.01 and a twelve month high of $6.75. The firm has a market capitalization of $613.39, a PE ratio of 15.49, a price-to-earnings-growth ratio of 2.43 and a beta of 0.75. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.17 and a quick ratio of 0.17.

Investors Real Estate Trust (NYSE:IRET) last announced its quarterly earnings results on Monday, December 11th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.01. Investors Real Estate Trust had a net margin of 25.90% and a negative return on equity of 1.91%. The firm had revenue of $53.92 million for the quarter, compared to analyst estimates of $53.69 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. equities research analysts anticipate that Investors Real Estate Trust will post 0.35 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.48%. Investors Real Estate Trust’s dividend payout ratio (DPR) is presently 84.85%.

In other Investors Real Estate Trust news, Director Jeffrey Caira purchased 45,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was bought at an average cost of $5.79 per share, with a total value of $260,550.00. Following the purchase, the director now directly owns 102,807 shares of the company’s stock, valued at $595,252.53. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO John Kirchmann purchased 6,900 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were acquired at an average cost of $5.65 per share, with a total value of $38,985.00. Following the completion of the purchase, the chief financial officer now directly owns 31,571 shares in the company, valued at $178,376.15. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 90,900 shares of company stock valued at $555,335. 1.04% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Investors Real Estate Trust by 1.8% in the 4th quarter. BlackRock Inc. now owns 10,709,041 shares of the real estate investment trust’s stock valued at $60,829,000 after buying an additional 192,546 shares during the last quarter. State Street Corp lifted its holdings in Investors Real Estate Trust by 5.4% during 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 purchasing an additional 142,589 shares during the last quarter. Northern Trust Corp lifted its holdings in Investors Real Estate Trust by 2.8% during 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 purchasing an additional 56,517 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Investors Real Estate Trust by 1.2% during 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 purchasing an additional 21,246 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Investors Real Estate Trust by 9.9% during 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 purchasing an additional 123,850 shares during the last quarter. 53.71% of the stock is owned by institutional investors.

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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.

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