Investors Real Estate Trust Reit (IRET) Earns Neutral Rating from Analysts at Boenning Scattergood

Boenning Scattergood started coverage on shares of Investors Real Estate Trust Reit (NYSE:IRET) in a research report issued to clients and investors on Monday, The Fly reports. The brokerage set a “neutral” rating on the real estate investment trust’s stock.

Separately, Zacks Investment Research upgraded Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $6.00.

Shares of NYSE:IRET traded down $0.03 during midday trading on Monday, reaching $5.54. The company had a trading volume of 580 shares, compared to its average volume of 375,087. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 1.15. Investors Real Estate Trust Reit has a 1-year low of $4.61 and a 1-year high of $6.34. The firm has a market capitalization of $670.43 million, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 2.65 and a beta of 0.74.

Investors Real Estate Trust Reit (NYSE:IRET) last released its quarterly earnings results on Monday, September 10th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.07). Investors Real Estate Trust Reit had a net margin of 69.92% and a negative return on equity of 4.92%. The company had revenue of $45.95 million during the quarter, compared to analyst estimates of $44.94 million. equities analysts predict that Investors Real Estate Trust Reit will post 0.35 earnings per share for the current year.

In related news, CFO John Kirchmann purchased 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 12th. The stock was acquired at an average price of $5.49 per share, for a total transaction of $98,820.00. Following the transaction, the chief financial officer now directly owns 49,571 shares of the company’s stock, valued at approximately $272,144.79. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Okey Decker, Jr. purchased 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 3rd. The stock was bought at an average price of $5.55 per share, with a total value of $49,950.00. Following the transaction, the chief executive officer now directly owns 172,085 shares in the company, valued at $955,071.75. The disclosure for this purchase can be found here. Insiders purchased a total of 35,662 shares of company stock valued at $195,149 in the last quarter. 0.85% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in IRET. Russell Investments Group Ltd. lifted its stake in Investors Real Estate Trust Reit by 3,996.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 614,408 shares of the real estate investment trust’s stock worth $3,401,000 after acquiring an additional 599,408 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Investors Real Estate Trust Reit by 15.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,126,945 shares of the real estate investment trust’s stock worth $17,292,000 after acquiring an additional 407,400 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Investors Real Estate Trust Reit by 38.1% in the 1st quarter. Wells Fargo & Company MN now owns 1,454,466 shares of the real estate investment trust’s stock worth $7,549,000 after acquiring an additional 401,167 shares in the last quarter. Boston Partners purchased a new stake in Investors Real Estate Trust Reit in the 2nd quarter worth about $2,133,000. Finally, KBC Group NV lifted its stake in Investors Real Estate Trust Reit by 1,266.9% in the 2nd quarter. KBC Group NV now owns 393,324 shares of the real estate investment trust’s stock worth $2,175,000 after acquiring an additional 364,549 shares in the last quarter. 57.14% of the stock is owned by hedge funds and other institutional investors.

About Investors Real Estate Trust Reit

IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities. As of April 30, 2018, IRET owned interests in 90 apartment communities consisting of 14,176 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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