Investors Real Estate Trust (IRET) Reaches New 12-Month Low at $4.85

Shares of Investors Real Estate Trust (NYSE:IRET) hit a new 52-week low on Wednesday . The company traded as low as $4.85 and last traded at $4.85, with a volume of 252175 shares trading hands. The stock had previously closed at $4.91.

IRET has been the topic of a number of analyst reports. BidaskClub cut Investors Real Estate Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. ValuEngine upgraded Investors Real Estate Trust from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. Zacks Investment Research upgraded Investors Real Estate Trust from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research report on Wednesday, November 15th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $7.00 price target on shares of Investors Real Estate Trust in a research report on Sunday, November 19th.

The stock has a market capitalization of $606.19, a PE ratio of 14.82, a price-to-earnings-growth ratio of 2.40 and a beta of 0.74. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.39.

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 for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Investors Real Estate Trust had a negative return on equity of 1.91% and a net margin of 25.90%. The firm had revenue of $53.92 million for the quarter, compared to analysts’ expectations of $53.69 million. During the same period in the prior year, the business posted $0.12 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. equities research analysts expect that Investors Real Estate Trust will post 0.35 earnings per share for the current fiscal year.

In other Investors Real Estate Trust news, Director Michael T. Dance bought 10,000 shares of the firm’s stock in a transaction dated Thursday, January 4th. The shares were bought at an average price of $5.50 per share, for a total transaction of $55,000.00. Following the completion of the acquisition, the director now owns 24,671 shares of the company’s stock, valued at $135,690.50. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey Caira bought 45,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were acquired at an average price of $5.79 per share, for a total transaction of $260,550.00. Following the acquisition, the director now directly owns 102,807 shares of the company’s stock, valued at approximately $595,252.53. The disclosure for this purchase can be found here. Insiders acquired 90,900 shares of company stock worth $555,335 over the last quarter. Company insiders own 1.04% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Investors Real Estate Trust by 1.8% during the fourth quarter. BlackRock Inc. now owns 10,709,041 shares of the real estate investment trust’s stock worth $60,829,000 after purchasing an additional 192,546 shares during the last quarter. State Street Corp grew its holdings in shares of Investors Real Estate Trust by 5.4% during the second quarter. State Street Corp now owns 2,778,387 shares of the real estate investment trust’s stock worth $17,253,000 after purchasing an additional 142,589 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Investors Real Estate Trust by 5.1% during the fourth quarter. Renaissance Technologies LLC now owns 2,163,600 shares of the real estate investment trust’s stock worth $12,289,000 after purchasing an additional 105,900 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Investors Real Estate Trust by 2.8% during the second quarter. Northern Trust Corp now owns 2,067,920 shares of the real estate investment trust’s stock worth $12,842,000 after purchasing an additional 56,517 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Investors Real Estate Trust by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,840,762 shares of the real estate investment trust’s stock worth $11,247,000 after purchasing an additional 21,246 shares during the last quarter. Institutional investors own 53.65% of the company’s stock.

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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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