Investors Real Estate Trust (IRET) Director Michael T. Dance Purchases 10,000 Shares

Investors Real Estate Trust (NYSE:IRET) Director Michael T. Dance purchased 10,000 shares of the company’s stock in a transaction on Thursday, January 4th. The shares were purchased at an average cost of $5.50 per share, for a total transaction of $55,000.00. Following the completion of the transaction, the director now directly owns 24,671 shares of the company’s stock, valued at approximately $135,690.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of Investors Real Estate Trust (NYSE IRET) traded up $0.01 on Friday, hitting $5.53. 423,340 shares of the stock traded hands, compared to its average volume of 651,118. The company has a market capitalization of $750.17, a price-to-earnings ratio of -32.53, a PEG ratio of 2.58 and a beta of 0.82. Investors Real Estate Trust has a 52 week low of $5.49 and a 52 week high of $7.17. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.17 and a quick ratio of 0.17.

Investors Real Estate Trust (NYSE:IRET) last issued its quarterly earnings data on Monday, December 11th. The real estate investment trust reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The company had revenue of $53.92 million for the quarter, compared to analyst estimates of $53.69 million. Investors Real Estate Trust had a net margin of 25.90% and a negative return on equity of 1.91%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 earnings per share. sell-side analysts expect that Investors Real Estate Trust will post 0.36 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend is Friday, December 29th. Investors Real Estate Trust’s payout ratio is presently -164.71%.

Several analysts have issued reports on the stock. BidaskClub raised shares of Investors Real Estate Trust from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. ValuEngine raised shares of Investors Real Estate Trust from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Zacks Investment Research lowered shares of Investors Real Estate Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Finally, Robert W. Baird reissued a “hold” rating and issued a $7.00 price objective on shares of Investors Real Estate Trust in a research report on Sunday, November 19th.

Several institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp raised its position in shares of Investors Real Estate Trust by 5.4% in the second quarter. State Street Corp now owns 2,778,387 shares of the real estate investment trust’s stock valued at $17,253,000 after purchasing an additional 142,589 shares during the period. Northern Trust Corp raised its position in shares of Investors Real Estate Trust by 2.8% in the second quarter. Northern Trust Corp now owns 2,067,920 shares of the real estate investment trust’s stock valued at $12,842,000 after purchasing an additional 56,517 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Investors Real Estate Trust by 1.2% in 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. Wells Fargo & Company MN raised its position in shares of Investors Real Estate Trust by 9.9% in 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. Finally, Bank of New York Mellon Corp raised its position 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 purchasing an additional 11,883 shares during the period. 53.63% of the stock is currently owned by institutional investors.

WARNING: “Investors Real Estate Trust (IRET) Director Michael T. Dance Purchases 10,000 Shares” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this report on another publication, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2018/01/07/investors-real-estate-trust-iret-director-michael-t-dance-purchases-10000-shares.html.

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.

Receive News & Ratings for Investors Real Estate Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Real Estate Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply