Investors Real Estate Trust Reit (NYSE:IRET) Upgraded to Hold by Zacks Investment Research

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Investors Real Estate Trust Reit (NYSE:IRET) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

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

A number of other equities analysts also recently commented on IRET. BMO Capital Markets reiterated a “hold” rating and issued a $9.50 target price on shares of Vicon Industries in a report on Friday, June 14th. ValuEngine upgraded Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, June 22nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $64.13.

Shares of IRET opened at $59.74 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a fifty day simple moving average of $59.64. The company has a market capitalization of $705.96 million, a PE ratio of 17.66, a PEG ratio of 2.80 and a beta of 0.89. Investors Real Estate Trust Reit has a fifty-two week low of $46.30 and a fifty-two week high of $62.24.

Investors Real Estate Trust Reit (NYSE:IRET) last issued its earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.54) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($1.40). Investors Real Estate Trust Reit had a negative net margin of 5.96% and a negative return on equity of 2.23%. The company had revenue of $45.61 million for the quarter, compared to analysts’ expectations of $45.08 million. Analysts anticipate that Investors Real Estate Trust Reit will post 3.57 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC acquired a new position in shares of Investors Real Estate Trust Reit in the first quarter valued at approximately $34,000. Independent Advisor Alliance purchased a new stake in Investors Real Estate Trust Reit during the first quarter worth $220,000. SG Americas Securities LLC purchased a new stake in shares of Investors Real Estate Trust Reit in the first quarter valued at $281,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Investors Real Estate Trust Reit in the first quarter valued at $341,000. Finally, Dupont Capital Management Corp purchased a new stake in shares of Investors Real Estate Trust Reit in the first quarter valued at $422,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

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).

See Also: What is Green Investing?

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