Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit (NYSE:IRET) from a sell rating to a hold rating in a research note released on Thursday morning, Zacks.com reports.
According to Zacks, “Investors Real Estate Trust is a real estate investment trust operating in the Midwest. “
Separately, ValuEngine upgraded shares of Investors Real Estate Trust Reit from a hold rating to a buy rating in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Investors Real Estate Trust Reit has an average rating of Buy and an average price target of $64.13.
Shares of NYSE:IRET opened at $60.25 on Thursday. The firm has a market cap of $701.14 million, a PE ratio of 17.54, a P/E/G ratio of 2.78 and a beta of 0.93. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.69 and a quick ratio of 0.69. Investors Real Estate Trust Reit has a 52-week low of $46.30 and a 52-week high of $62.24.
Investors Real Estate Trust Reit (NYSE:IRET) last announced its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($1.40). The company had revenue of $45.61 million for the quarter, compared to analyst estimates of $45.08 million. Investors Real Estate Trust Reit had a negative return on equity of 2.23% and a negative net margin of 5.96%. On average, sell-side analysts anticipate that Investors Real Estate Trust Reit will post 3.57 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.80 annualized dividend and a dividend yield of 4.65%.
Several large investors have recently made changes to their positions in IRET. Nisa Investment Advisors LLC acquired a new stake in Investors Real Estate Trust Reit in the first quarter valued at $34,000. Pinebridge Investments L.P. acquired a new stake in Investors Real Estate Trust Reit in the first quarter valued at $39,000. Acadian Asset Management LLC bought a new stake in Investors Real Estate Trust Reit during the fourth quarter valued at $145,000. Independent Advisor Alliance bought a new stake in Investors Real Estate Trust Reit during the first quarter valued at $220,000. Finally, SG Americas Securities LLC bought a new stake in Investors Real Estate Trust Reit during the first quarter valued at $281,000. Institutional investors own 61.67% of the company’s stock.
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 December 31, 2018, IRET owned interests in 87 apartment communities consisting of 13,702 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).
See Also: Margin
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