ValuEngine Downgrades Investors Real Estate Trust (NYSE:IRET) to Hold

ValuEngine lowered shares of Investors Real Estate Trust (NYSE:IRET) from a buy rating to a hold rating in a report issued on Friday, February 2nd.

IRET has been the subject of a number of other research reports. 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. BidaskClub lowered shares of Investors Real Estate Trust from a sell rating to a strong sell rating in a research report on Tuesday, October 31st. Finally, Robert W. Baird reaffirmed a hold rating and set a $7.00 price objective on shares of Investors Real Estate Trust in a research report on Sunday, November 19th.

Shares of Investors Real Estate Trust (NYSE:IRET) opened at $5.02 on Friday. Investors Real Estate Trust has a twelve month low of $4.91 and a twelve month high of $6.75. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $613.39, a P/E ratio of 15.21, a P/E/G ratio of 2.43 and a beta of 0.75.

Investors Real Estate Trust (NYSE:IRET) last posted its quarterly earnings results on Monday, December 11th. The real estate investment trust reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Investors Real Estate Trust had a net margin of 25.90% and a negative return on equity of 1.91%. The business had revenue of $53.92 million for the quarter, compared to analysts’ expectations of $53.69 million. During the same period in the previous year, the company posted $0.12 EPS. Investors Real Estate Trust’s revenue was up 6.6% on a year-over-year basis. analysts expect that Investors Real Estate Trust will post 0.35 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $0.28 dividend on an annualized basis and a yield of 5.58%. Investors Real Estate Trust’s payout ratio is currently 84.85%.

In other news, CFO John Kirchmann acquired 6,900 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were purchased at an average cost of $5.65 per share, with a total value of $38,985.00. Following the completion of the purchase, the chief financial officer now owns 31,571 shares of the company’s stock, valued at $178,376.15. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael T. Dance purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, January 4th. The shares were bought at an average cost of $5.50 per share, for a total transaction of $55,000.00. Following the completion of the purchase, the director now directly owns 24,671 shares of the company’s stock, valued at $135,690.50. The disclosure for this purchase can be found here. In the last three months, insiders purchased 90,900 shares of company stock worth $555,335. 1.04% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in IRET. Schwab Charles Investment Management Inc. lifted its holdings in Investors Real Estate Trust by 9.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 894,551 shares of the real estate investment trust’s stock valued at $5,556,000 after buying an additional 77,350 shares during the period. Teachers Advisors LLC raised its holdings in Investors Real Estate Trust by 6.5% in the second quarter. Teachers Advisors LLC now owns 221,741 shares of the real estate investment trust’s stock worth $1,377,000 after purchasing an additional 13,618 shares during the period. TIAA CREF Investment Management LLC raised its holdings in Investors Real Estate Trust by 7.2% in the second quarter. TIAA CREF Investment Management LLC now owns 333,488 shares of the real estate investment trust’s stock worth $2,071,000 after purchasing an additional 22,289 shares during the period. Northern Trust Corp raised its holdings in 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 worth $12,842,000 after purchasing an additional 56,517 shares during the period. Finally, Parametric Portfolio Associates LLC raised its holdings in Investors Real Estate Trust by 9.8% in the second quarter. Parametric Portfolio Associates LLC now owns 293,909 shares of the real estate investment trust’s stock worth $1,825,000 after purchasing an additional 26,186 shares during the period. Institutional investors and hedge funds own 53.83% of the company’s stock.

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About Investors Real Estate Trust

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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