Investors Real Estate Trust (NYSE:IRET) issued its earnings results on Monday. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10, Bloomberg Earnings reports. Investors Real Estate Trust had a net margin of 25.72% and a return on equity of 0.11%. The business had revenue of $52.70 million during the quarter, compared to the consensus estimate of $50.76 million. During the same period last year, the business posted $0.12 EPS. Investors Real Estate Trust’s revenue was up 6.3% on a year-over-year basis.
Shares of Investors Real Estate Trust (NYSE IRET) opened at 5.85 on Wednesday. The firm has a market capitalization of $705.64 million, a P/E ratio of 22.59 and a beta of 0.79. Investors Real Estate Trust has a 12 month low of $5.60 and a 12 month high of $7.28. The firm’s 50-day moving average is $6.20 and its 200 day moving average is $6.09.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.28 annualized dividend and a yield of 4.79%. Investors Real Estate Trust’s dividend payout ratio (DPR) is presently 80.00%.
IRET has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Investors Real Estate Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. ValuEngine downgraded shares of Investors Real Estate Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Finally, BidaskClub downgraded shares of Investors Real Estate Trust from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $6.67.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRET. Campbell & CO Investment Adviser LLC purchased a new position in Investors Real Estate Trust in the second quarter valued at about $100,000. Neuberger Berman Group LLC boosted its stake in Investors Real Estate Trust by 29.4% in the first quarter. Neuberger Berman Group LLC now owns 18,553 shares of the real estate investment trust’s stock valued at $110,000 after acquiring an additional 4,213 shares during the last quarter. Creative Planning boosted its stake in Investors Real Estate Trust by 43.4% in the second quarter. Creative Planning now owns 19,088 shares of the real estate investment trust’s stock valued at $119,000 after acquiring an additional 5,775 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new position in Investors Real Estate Trust in the second quarter valued at about $126,000. Finally, Honkamp Krueger Financial Services Inc. purchased a new position in Investors Real Estate Trust in the second quarter valued at about $128,000. Hedge funds and other institutional investors own 53.67% of the company’s stock.
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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