Wall Street brokerages expect that Investors Real Estate Trust (NYSE:IRET) will post earnings of $0.09 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Investors Real Estate Trust’s earnings. The highest EPS estimate is $0.09 and the lowest is $0.08. Investors Real Estate Trust reported earnings of $0.11 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 18.2%. The company is expected to announce its next earnings results on Wednesday, June 27th.
On average, analysts expect that Investors Real Estate Trust will report full year earnings of $0.35 per share for the current fiscal year, with EPS estimates ranging from $0.29 to $0.38. For the next year, analysts expect that the company will post earnings of $0.41 per share, with EPS estimates ranging from $0.39 to $0.46. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that cover Investors Real Estate Trust.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Investors Real Estate Trust from a “hold” rating to a “buy” rating and set a $5.75 target price for the company in a research note on Friday, March 23rd. Robert W. Baird set a $6.00 target price on shares of Investors Real Estate Trust and gave the company a “hold” rating in a research note on Friday, March 2nd. Finally, ValuEngine upgraded shares of Investors Real Estate Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th.
The business also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Thursday, March 15th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend was Wednesday, March 14th. Investors Real Estate Trust’s payout ratio is presently 59.57%.
In other Investors Real Estate Trust news, Director Michael T. Dance purchased 9,000 shares of the company’s stock in a transaction that occurred on Monday, March 19th. The stock was purchased at an average price of $5.01 per share, with a total value of $45,090.00. Following the completion of the transaction, the director now directly owns 33,695 shares of the company’s stock, valued at approximately $168,811.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael T. Dance purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The stock was acquired at an average cost of $24.95 per share, with a total value of $49,900.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 25,400 shares of company stock valued at $170,610. 1.04% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Fox Run Management L.L.C. acquired a new stake in shares of Investors Real Estate Trust during the fourth quarter worth approximately $108,000. SG Americas Securities LLC increased its holdings in shares of Investors Real Estate Trust by 68.8% during the third quarter. SG Americas Securities LLC now owns 30,118 shares of the real estate investment trust’s stock worth $184,000 after buying an additional 12,280 shares in the last quarter. Stockman Wealth Management Inc. acquired a new stake in shares of Investors Real Estate Trust during the fourth quarter worth approximately $185,000. Jane Street Group LLC acquired a new stake in shares of Investors Real Estate Trust during the fourth quarter worth approximately $205,000. Finally, Teacher Retirement System of Texas increased its holdings in shares of Investors Real Estate Trust by 315.7% during the fourth quarter. Teacher Retirement System of Texas now owns 41,761 shares of the real estate investment trust’s stock worth $237,000 after buying an additional 31,714 shares in the last quarter. 57.55% of the stock is owned by hedge funds and other institutional investors.
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Investors Real Estate Trust Company Profile
IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of multifamily apartment communities. As of January 31, 2018, IRET owned interests in 89 multifamily properties consisting of 13,786 apartment homes. IRET's common shares and Series C preferred shares are publicly traded on the New York Stock Exchange (NYSE symbols: IRET and IRET PRC, respectively).
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