Investors Real Estate Trust (IRET) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Investors Real Estate Trust (NYSE:IRET) from a buy rating to a hold rating in a research report released on Tuesday.

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

Several other analysts have also issued reports on IRET. Robert W. Baird reaffirmed a hold rating and issued a $7.00 target price on shares of Investors Real Estate Trust in a research note on Sunday, November 19th. ValuEngine raised Investors Real Estate Trust from a hold rating to a buy rating in a research note on Friday, October 6th. Finally, BidaskClub lowered Investors Real Estate Trust from a hold rating to a sell rating in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company has an average rating of Hold and an average price target of $6.67.

Investors Real Estate Trust (NYSE:IRET) opened at $5.91 on Tuesday. Investors Real Estate Trust has a twelve month low of $5.60 and a twelve month high of $7.28. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $716.29, a PE ratio of 13.20, a PEG ratio of 2.61 and a beta of 0.81.

Investors Real Estate Trust (NYSE:IRET) last issued its quarterly earnings data on Monday, September 11th. The real estate investment trust reported $0.10 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. The company had revenue of $52.70 million during the quarter, compared to analyst estimates of $50.76 million. Investors Real Estate Trust had a return on equity of 0.11% and a net margin of 25.72%. Investors Real Estate Trust’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 earnings per share. research analysts forecast that Investors Real Estate Trust will post 0.38 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of IRET. GSA Capital Partners LLP boosted its stake in shares of Investors Real Estate Trust by 339.0% during the third quarter. GSA Capital Partners LLP now owns 167,699 shares of the real estate investment trust’s stock valued at $1,025,000 after purchasing an additional 129,503 shares during the period. California Public Employees Retirement System boosted its stake in shares of Investors Real Estate Trust by 3.3% during the third quarter. California Public Employees Retirement System now owns 501,944 shares of the real estate investment trust’s stock valued at $3,067,000 after purchasing an additional 16,112 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Investors Real Estate Trust by 33.8% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 52,705 shares of the real estate investment trust’s stock valued at $322,000 after purchasing an additional 13,313 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Investors Real Estate Trust by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,840,762 shares of the real estate investment trust’s stock valued at $11,247,000 after purchasing an additional 21,246 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Investors Real Estate Trust by 9.9% during the third quarter. Wells Fargo & Company MN now owns 1,379,059 shares of the real estate investment trust’s stock valued at $8,426,000 after purchasing an additional 123,850 shares during the period. 53.40% of the stock is 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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