Investors Real Estate Trust Reit (NYSE:IRET) Receives Average Recommendation of “Buy” from Brokerages

Investors Real Estate Trust Reit (NYSE:IRET) has received a consensus recommendation of “Buy” from the seven analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $73.50.

A number of brokerages have recently commented on IRET. DA Davidson reaffirmed a “buy” rating on shares of Investors Real Estate Trust Reit in a research report on Monday, July 29th. Compass Point began coverage on Investors Real Estate Trust Reit in a research report on Monday, July 22nd. They issued a “buy” rating and a $67.50 price objective for the company. Zacks Investment Research raised Investors Real Estate Trust Reit from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Saturday, August 10th. ValuEngine downgraded Investors Real Estate Trust Reit from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, BMO Capital Markets lifted their price objective on Investors Real Estate Trust Reit from $74.00 to $76.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd.

Institutional investors have recently modified their holdings of the stock. Bank of Montreal Can acquired a new position in Investors Real Estate Trust Reit in the second quarter valued at $58,000. Nisa Investment Advisors LLC boosted its holdings in Investors Real Estate Trust Reit by 78.8% in the second quarter. Nisa Investment Advisors LLC now owns 1,001 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 441 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Investors Real Estate Trust Reit by 23.4% in the second quarter. Daiwa Securities Group Inc. now owns 2,110 shares of the real estate investment trust’s stock valued at $124,000 after acquiring an additional 400 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new position in Investors Real Estate Trust Reit in the second quarter valued at $148,000. Finally, Assetmark Inc. acquired a new position in Investors Real Estate Trust Reit in the second quarter valued at $178,000. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Shares of NYSE:IRET traded up $0.02 during midday trading on Tuesday, reaching $71.31. The company’s stock had a trading volume of 47,048 shares, compared to its average volume of 65,064. The firm has a market cap of $836.85 million, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 3.26 and a beta of 0.86. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.40. Investors Real Estate Trust Reit has a 1 year low of $46.30 and a 1 year high of $72.42. The business has a 50 day moving average price of $67.82 and a 200 day moving average price of $61.63.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Friday, September 13th.

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 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).

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Analyst Recommendations for Investors Real Estate Trust Reit (NYSE:IRET)

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