Investors Real Estate Trust (NYSE:IRET) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The firm currently has a $6.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.78% from the company’s current price.
According to Zacks, “Investors Real Estate Trust is a real estate investment trust operating in the Midwest. “
Several other research firms also recently weighed in on IRET. ValuEngine downgraded shares of Investors Real Estate Trust from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Robert W. Baird set a $6.00 target price on shares of Investors Real Estate Trust and gave the company a “hold” rating in a report on Friday, March 2nd.
IRET stock opened at $5.32 on Friday. The company has a market cap of $644.60, a PE ratio of 11.32, a PEG ratio of 2.46 and a beta of 0.74. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.40 and a current ratio of 1.40. Investors Real Estate Trust has a one year low of $4.61 and a one year high of $6.75.
In related news, CFO John Kirchmann bought 6,900 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was purchased at an average price of $5.65 per share, for a total transaction of $38,985.00. Following the acquisition, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael T. Dance bought 9,000 shares of the company’s stock in a transaction that occurred on Monday, March 19th. The stock was bought at an average price of $5.01 per share, with a total value of $45,090.00. Following the acquisition, the director now directly owns 33,695 shares in the company, valued at approximately $168,811.95. The disclosure for this purchase can be found here. Insiders purchased a total of 25,400 shares of company stock valued at $170,610 in the last quarter. 1.04% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Fox Run Management L.L.C. acquired a new stake in Investors Real Estate Trust in the 4th quarter valued at approximately $108,000. SG Americas Securities LLC increased its holdings in Investors Real Estate Trust by 68.8% in the 3rd quarter. SG Americas Securities LLC now owns 30,118 shares of the real estate investment trust’s stock valued at $184,000 after purchasing an additional 12,280 shares during the last quarter. Stockman Wealth Management Inc. acquired a new stake in Investors Real Estate Trust in the 4th quarter valued at approximately $185,000. Jane Street Group LLC acquired a new position in shares of Investors Real Estate Trust in the fourth quarter worth $205,000. Finally, Teacher Retirement System of Texas grew its stake in shares of Investors Real Estate Trust by 315.7% in the fourth quarter. Teacher Retirement System of Texas now owns 41,761 shares of the real estate investment trust’s stock worth $237,000 after acquiring an additional 31,714 shares in the last quarter. Hedge funds and other institutional investors own 57.55% of the company’s stock.
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Investors Real Estate Trust Company Profile
IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of multifamily apartment communities. As of January 31, 2018, IRET owned interests in 89 multifamily properties consisting of 13,786 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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