Investors Real Estate Trust (IRET) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Investors Real Estate Trust (NYSE:IRET) from a hold rating to a buy rating in a research report released on Friday. Zacks Investment Research currently has $5.75 price objective on the real estate investment trust’s stock.

According to Zacks, “Investors Real Estate Trust is a real estate investment trust operating in the Midwest. “

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Other equities analysts have also issued research reports about the stock. ValuEngine upgraded shares of Investors Real Estate Trust from a hold rating to a buy rating in a research report on Wednesday, March 7th. Robert W. Baird set a $6.00 price objective on shares of Investors Real Estate Trust and gave the company a hold rating in a research report on Friday, March 2nd.

Investors Real Estate Trust (NYSE IRET) opened at $5.06 on Friday. Investors Real Estate Trust has a 12-month low of $4.61 and a 12-month high of $6.75. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market cap of $607.39, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 2.32 and a beta of 0.89.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, March 14th. This represents a $0.28 annualized dividend and a yield of 5.53%. Investors Real Estate Trust’s dividend payout ratio (DPR) is currently 21.71%.

In other news, Director Michael T. Dance bought 2,000 shares of Investors Real Estate Trust stock in a transaction dated Thursday, January 18th. The shares were acquired at an average price of $24.95 per share, with a total value of $49,900.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael T. Dance bought 10,000 shares of Investors Real Estate Trust stock in a transaction dated Thursday, January 4th. The stock was purchased at an average cost of $5.50 per share, for a total transaction of $55,000.00. Following the purchase, 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. In the last three months, insiders bought 62,400 shares of company stock worth $376,510. Insiders own 1.04% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in IRET. Aperio Group LLC raised its stake in shares of Investors Real Estate Trust by 86.4% in the third quarter. Aperio Group LLC now owns 28,150 shares of the real estate investment trust’s stock valued at $172,000 after acquiring an additional 13,052 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Investors Real Estate Trust by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 1,137,298 shares of the real estate investment trust’s stock valued at $6,949,000 after acquiring an additional 11,883 shares during the period. SG Americas Securities LLC raised its stake in shares of Investors Real Estate Trust by 68.8% in the third quarter. SG Americas Securities LLC now owns 30,118 shares of the real estate investment trust’s stock valued at $184,000 after acquiring an additional 12,280 shares during the period. Virginia Retirement Systems ET AL purchased a new stake in shares of Investors Real Estate Trust in the third quarter valued at $510,000. Finally, JPMorgan Chase & Co. increased its stake in Investors Real Estate Trust by 67,497.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 304,189 shares of the real estate investment trust’s stock worth $1,856,000 after buying an additional 303,739 shares during the period. 57.55% of the stock is currently owned by institutional investors and hedge funds.

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Investors Real Estate Trust Company Profile

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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