Investors Real Estate Trust (NYSE:IRET) has earned a consensus rating of “Hold” from the six ratings firms that are currently covering the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $6.45.
Several research analysts have commented on IRET shares. Janney Montgomery Scott started coverage on shares of Investors Real Estate Trust in a research note on Tuesday, August 23rd. They set a “buy” rating and a $7.00 price target on the stock. DA Davidson decreased their price target on shares of Investors Real Estate Trust from $7.00 to $6.05 and set a “buy” rating on the stock in a research note on Monday, September 12th. Robert W. Baird set a $6.00 price target on shares of Investors Real Estate Trust and gave the stock a “hold” rating in a research note on Tuesday, September 13th. Wunderlich decreased their price target on shares of Investors Real Estate Trust from $7.50 to $6.75 and set a “hold” rating on the stock in a research note on Friday, July 1st. Finally, Zacks Investment Research upgraded shares of Investors Real Estate Trust from a “sell” rating to a “hold” rating in a report on Tuesday, September 6th.
In related news, insider Mark Okey Decker, Jr. purchased 6,689 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were acquired at an average price of $5.68 per share, for a total transaction of $37,993.52. Following the completion of the acquisition, the insider now directly owns 96,138 shares in the company, valued at approximately $546,063.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey L. Miller purchased 6,000 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The stock was bought at an average price of $5.83 per share, for a total transaction of $34,980.00. Following the acquisition, the insider now owns 288,096 shares of the company’s stock, valued at $1,679,599.68. The disclosure for this purchase can be found here. 1.34% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Investors Real Estate Trust during the fourth quarter valued at $9,126,000. Nuveen Asset Management LLC acquired a new stake in shares of Investors Real Estate Trust during the second quarter worth approximately $1,821,000. Vanguard Group Inc. boosted its stake in shares of Investors Real Estate Trust by 1.4% in the second quarter. Vanguard Group Inc. now owns 18,466,619 shares of the real estate investment trust’s stock worth $119,480,000 after buying an additional 256,421 shares during the period. Pacific Heights Asset Management LLC boosted its stake in shares of Investors Real Estate Trust by 12.5% in the second quarter. Pacific Heights Asset Management LLC now owns 2,250,000 shares of the real estate investment trust’s stock worth $14,558,000 after buying an additional 250,000 shares during the period. Finally, Systematic Financial Management LP acquired a new stake in shares of Investors Real Estate Trust during the second quarter worth approximately $1,610,000. Institutional investors and hedge funds own 48.77% of the company’s stock.
Investors Real Estate Trust (NYSE:IRET) traded down 0.48% on Tuesday, hitting $6.20. 192,734 shares of the company were exchanged. Investors Real Estate Trust has a 52 week low of $5.66 and a 52 week high of $8.39. The stock has a 50 day moving average of $6.33 and a 200 day moving average of $6.51. The company has a market capitalization of $753.49 million, a price-to-earnings ratio of 24.70 and a beta of 0.74.
Investors Real Estate Trust (NYSE:IRET) last posted its quarterly earnings results on Thursday, September 8th. The real estate investment trust reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. The firm had revenue of $49.60 million for the quarter, compared to the consensus estimate of $48.74 million. Investors Real Estate Trust had a net margin of 22.23% and a negative return on equity of 1.83%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.16 earnings per share. Analysts predict that Investors Real Estate Trust will post $0.47 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 8.35%. The ex-dividend date is Tuesday, September 13th. Investors Real Estate Trust’s dividend payout ratio is 185.71%.
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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