$0.09 EPS Expected for Investors Real Estate Trust Reit (IRET) This Quarter

Analysts predict that Investors Real Estate Trust Reit (NYSE:IRET) will announce $0.09 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for Investors Real Estate Trust Reit’s earnings. The lowest EPS estimate is $0.08 and the highest is $0.09. Investors Real Estate Trust Reit posted earnings per share of $0.10 in the same quarter last year, which indicates a negative year over year growth rate of 10%. The company is expected to announce its next quarterly earnings report on Monday, December 10th.

On average, analysts expect that Investors Real Estate Trust Reit will report full year earnings of $0.35 per share for the current financial year, with EPS estimates ranging from $0.33 to $0.36. For the next financial year, analysts forecast that the firm will post earnings of $0.40 per share, with EPS estimates ranging from $0.39 to $0.41. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Investors Real Estate Trust Reit.

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). The business had revenue of $45.95 million for the quarter, compared to the consensus estimate of $44.94 million. Investors Real Estate Trust Reit had a net margin of 69.92% and a negative return on equity of 4.92%.

A number of equities research analysts have recently weighed in on IRET shares. Boenning Scattergood started coverage on Investors Real Estate Trust Reit in a report on Monday, September 17th. They set a “neutral” rating on the stock. Zacks Investment Research raised Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a report on Thursday, September 13th. Finally, Robert W. Baird raised Investors Real Estate Trust Reit from a “neutral” rating to an “outperform” rating in a report on Tuesday, September 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Investors Real Estate Trust Reit presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in shares of Investors Real Estate Trust Reit by 3.3% during the second quarter. BlackRock Inc. now owns 10,931,896 shares of the real estate investment trust’s stock valued at $60,453,000 after acquiring an additional 353,461 shares during the period. Renaissance Technologies LLC increased its stake in shares of Investors Real Estate Trust Reit by 15.0% during the second quarter. Renaissance Technologies LLC now owns 3,126,945 shares of the real estate investment trust’s stock valued at $17,292,000 after acquiring an additional 407,400 shares during the period. Northern Trust Corp increased its stake in shares of Investors Real Estate Trust Reit by 5.4% during the second quarter. Northern Trust Corp now owns 2,269,047 shares of the real estate investment trust’s stock valued at $12,547,000 after acquiring an additional 116,125 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Investors Real Estate Trust Reit by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,955,620 shares of the real estate investment trust’s stock valued at $10,815,000 after acquiring an additional 18,101 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Investors Real Estate Trust Reit by 38.1% during the first quarter. Wells Fargo & Company MN now owns 1,454,466 shares of the real estate investment trust’s stock valued at $7,549,000 after acquiring an additional 401,167 shares during the period. Institutional investors and hedge funds own 57.08% of the company’s stock.

IRET opened at $5.34 on Wednesday. The company has a market cap of $714.65 million, a PE ratio of 14.05, a price-to-earnings-growth ratio of 2.85 and a beta of 0.72. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.15. Investors Real Estate Trust Reit has a twelve month low of $4.61 and a twelve month high of $6.34.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 17th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, September 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.24%. Investors Real Estate Trust Reit’s dividend payout ratio (DPR) is presently 73.68%.

Investors Real Estate Trust Reit Company Profile

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).

Featured Article: Marijuana Stocks

Get a free copy of the Zacks research report on Investors Real Estate Trust Reit (IRET)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Investors Real Estate Trust Reit (NYSE:IRET)

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


Leave a Reply