ValuEngine upgraded shares of Investors Real Estate Trust (NYSE:IRET) from a hold rating to a buy rating in a research note released on Wednesday.
A number of other analysts have also weighed in on IRET. Zacks Investment Research upgraded shares of Investors Real Estate Trust from a hold rating to a buy rating and set a $6.50 target price on the stock in a research report on Wednesday, November 15th. Robert W. Baird restated a hold rating and issued a $7.00 target price on shares of Investors Real Estate Trust in a research report on Sunday, November 19th.
Shares of Investors Real Estate Trust (NYSE IRET) opened at $4.74 on Wednesday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.39. The stock has a market cap of $568.98, a P/E ratio of 14.36, a P/E/G ratio of 2.19 and a beta of 0.89. Investors Real Estate Trust has a 52-week low of $4.61 and a 52-week high of $6.75.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be given a $0.07 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.28 dividend on an annualized basis and a yield of 5.91%. Investors Real Estate Trust’s dividend payout ratio is currently 84.85%.
In other Investors Real Estate Trust news, Director Jeffrey Caira purchased 45,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were bought at an average price of $5.79 per share, for a total transaction of $260,550.00. Following the completion of the acquisition, the director now owns 102,807 shares in the company, valued at $595,252.53. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael T. Dance purchased 10,000 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were acquired at an average price of $5.50 per share, for a total transaction of $55,000.00. Following the acquisition, the director now owns 24,671 shares of the company’s stock, valued at approximately $135,690.50. The disclosure for this purchase can be found here. Insiders acquired 90,900 shares of company stock worth $555,335 in the last 90 days. Company insiders own 1.04% of the company’s stock.
Several large investors have recently modified their holdings of the company. Meitav Dash Investments Ltd. acquired a new position in shares of Investors Real Estate Trust during the fourth quarter worth $521,000. MetLife Investment Advisors LLC acquired a new position in shares of Investors Real Estate Trust during the fourth quarter worth $322,000. Jane Street Group LLC acquired a new position in shares of Investors Real Estate Trust during the fourth quarter worth $205,000. LPL Financial LLC lifted its holdings in shares of Investors Real Estate Trust by 2,259.6% during the fourth quarter. LPL Financial LLC now owns 529,188 shares of the real estate investment trust’s stock worth $3,006,000 after purchasing an additional 506,761 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Investors Real Estate Trust by 102.6% during the fourth quarter. Millennium Management LLC now owns 130,485 shares of the real estate investment trust’s stock worth $741,000 after purchasing an additional 66,082 shares during the period. Institutional investors own 53.56% 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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