Zacks Investment Research lowered shares of Investors Real Estate Trust (NYSE:IRET) from a buy rating to a hold rating in a report published on Wednesday, April 11th.
According to Zacks, “Investors Real Estate Trust is a real estate investment trust operating in the Midwest. “
A number of other equities analysts also recently issued reports on IRET. ValuEngine upgraded Investors Real Estate Trust from a hold rating to a buy rating in a research report on Wednesday, March 28th. Robert W. Baird set a $6.00 price target on Investors Real Estate Trust and gave the stock a hold rating in a research report on Friday, March 2nd.
Investors Real Estate Trust (NYSE:IRET) last announced its quarterly earnings data on Monday, March 12th. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.21). The firm had revenue of $43.25 million during the quarter, compared to analyst estimates of $54.08 million. Investors Real Estate Trust had a net margin of 82.22% and a negative return on equity of 3.73%. research analysts expect that Investors Real Estate Trust will post 0.35 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Thursday, March 15th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.28 annualized dividend and a dividend yield of 5.34%. Investors Real Estate Trust’s dividend payout ratio is presently 59.57%.
In other news, Director Michael T. Dance purchased 9,000 shares of the stock in a transaction dated Monday, March 19th. The stock was acquired at an average cost of $5.01 per share, for a total transaction of $45,090.00. Following the completion of the transaction, the director now directly owns 33,695 shares in the company, valued at approximately $168,811.95. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO John Kirchmann bought 6,900 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The stock was bought at an average price of $5.65 per share, with a total value of $38,985.00. Following the completion of the acquisition, the chief financial officer now owns 31,571 shares of the company’s stock, valued at approximately $178,376.15. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 23,400 shares of company stock valued at $120,710. Insiders own 1.04% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in shares of Investors Real Estate Trust by 67,497.6% during the third quarter. JPMorgan Chase & Co. now owns 304,189 shares of the real estate investment trust’s stock worth $1,856,000 after purchasing an additional 303,739 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 about $185,000. Wells Fargo & Company MN increased its position in shares of Investors Real Estate Trust by 9.9% during the third quarter. Wells Fargo & Company MN now owns 1,379,059 shares of the real estate investment trust’s stock worth $8,426,000 after purchasing an additional 123,850 shares in the last quarter. Capital Analysts LLC increased its position in Investors Real Estate Trust by 1,326.3% in the 4th quarter. Capital Analysts LLC now owns 95,620 shares of the real estate investment trust’s stock valued at $4,883,000 after acquiring an additional 88,916 shares during the period. Finally, California Public Employees Retirement System increased its position in Investors Real Estate Trust by 6.9% in the 4th quarter. California Public Employees Retirement System now owns 536,518 shares of the real estate investment trust’s stock valued at $3,047,000 after acquiring an additional 34,574 shares during the period. 57.55% of the stock is owned by institutional investors.
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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