$45.51 Million in Sales Expected for Investors Real Estate Trust Reit (IRET) This Quarter

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Wall Street brokerages expect Investors Real Estate Trust Reit (NYSE:IRET) to announce $45.51 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Investors Real Estate Trust Reit’s earnings. The lowest sales estimate is $44.30 million and the highest is $46.70 million. The company is scheduled to report its next quarterly earnings report on Wednesday, May 8th.

According to Zacks, analysts expect that Investors Real Estate Trust Reit will report full-year sales of $184.07 million for the current fiscal year, with estimates ranging from $180.90 million to $187.79 million. For the next year, analysts forecast that the firm will report sales of $192.79 million, with estimates ranging from $189.82 million to $195.75 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Investors Real Estate Trust Reit.

Investors Real Estate Trust Reit (NYSE:IRET) last posted its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($1.40). Investors Real Estate Trust Reit had a negative return on equity of 2.23% and a negative net margin of 5.96%. The business had revenue of $45.61 million for the quarter, compared to analyst estimates of $45.08 million.

A number of equities analysts have recently commented on IRET shares. Zacks Investment Research raised Investors Real Estate Trust Reit from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Saturday, March 2nd. ValuEngine cut Investors Real Estate Trust Reit from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th.

A number of institutional investors and hedge funds have recently modified their holdings of IRET. BlackRock Inc. increased its holdings in Investors Real Estate Trust Reit by 2.2% in the 3rd quarter. BlackRock Inc. now owns 11,172,479 shares of the real estate investment trust’s stock worth $66,811,000 after purchasing an additional 240,583 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Investors Real Estate Trust Reit by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,967,844 shares of the real estate investment trust’s stock worth $11,767,000 after purchasing an additional 12,224 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Investors Real Estate Trust Reit by 97.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 304,557 shares of the real estate investment trust’s stock worth $1,821,000 after purchasing an additional 150,586 shares in the last quarter. Jane Street Group LLC increased its holdings in Investors Real Estate Trust Reit by 80.8% in the 3rd quarter. Jane Street Group LLC now owns 20,970 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 9,373 shares in the last quarter. Finally, MetLife Investment Advisors LLC increased its holdings in Investors Real Estate Trust Reit by 52.4% in the 3rd quarter. MetLife Investment Advisors LLC now owns 87,204 shares of the real estate investment trust’s stock worth $521,000 after purchasing an additional 29,994 shares in the last quarter. 61.62% of the stock is owned by institutional investors and hedge funds.

Shares of Investors Real Estate Trust Reit stock traded down $0.50 during trading on Wednesday, reaching $60.03. 26,700 shares of the company’s stock were exchanged, compared to its average volume of 62,180. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.64 and a current ratio of 0.69. Investors Real Estate Trust Reit has a 1-year low of $46.30 and a 1-year high of $62.24. The stock has a market capitalization of $702.79 million, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 2.75 and a beta of 0.96.

Investors Real Estate Trust Reit Company Profile

IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities. As of December 31, 2018, IRET owned interests in 87 apartment communities consisting of 13,702 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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Earnings History and Estimates for Investors Real Estate Trust Reit (NYSE:IRET)

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