Zacks Investment Research Upgrades Investors Real Estate Trust (IRET) to Hold

Investors Real Estate Trust (NYSE:IRET) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Investors Real Estate Trust is a real estate investment trust operating in the Midwest. “

IRET has been the subject of several other reports. BidaskClub downgraded shares of Investors Real Estate Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. ValuEngine upgraded shares of Investors Real Estate Trust from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Finally, Robert W. Baird reiterated a “hold” rating and set a $7.00 price objective on shares of Investors Real Estate Trust in a research note on Sunday, November 19th.

Shares of Investors Real Estate Trust (IRET) opened at $5.02 on Wednesday. The firm has a market cap of $664.71, a P/E ratio of -28.82, a price-to-earnings-growth ratio of 2.39 and a beta of 0.75. Investors Real Estate Trust has a one year low of $4.87 and a one year high of $6.75. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.39.

Investors Real Estate Trust (NYSE:IRET) last announced its earnings results on Monday, December 11th. The real estate investment trust reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The company had revenue of $53.92 million during the quarter, compared to the consensus estimate of $53.69 million. Investors Real Estate Trust had a net margin of 25.90% and a negative return on equity of 1.91%. Investors Real Estate Trust’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $0.12 earnings per share. equities research analysts anticipate that Investors Real Estate Trust will post 0.35 EPS for the current year.

In related news, Director Jeffrey Caira acquired 45,000 shares of the stock in a transaction dated Thursday, December 14th. The stock was acquired at an average cost of $5.79 per share, for a total transaction of $260,550.00. Following the completion of the purchase, the director now owns 102,807 shares of the company’s stock, valued at approximately $595,252.53. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael T. Dance acquired 10,000 shares of the stock in a transaction dated Thursday, January 4th. The shares were bought at an average price of $5.50 per share, with a total value of $55,000.00. Following the completion of the purchase, the director now directly owns 24,671 shares of the company’s stock, valued at approximately $135,690.50. The disclosure for this purchase can be found here. Insiders have bought 90,900 shares of company stock valued at $555,335 over the last quarter. Insiders own 1.04% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Meitav Dash Investments Ltd. acquired a new stake in shares of Investors Real Estate Trust during the fourth quarter worth $521,000. MetLife Investment Advisors LLC acquired a new stake in shares of Investors Real Estate Trust during the fourth quarter worth $322,000. Jane Street Group LLC acquired a new stake in shares of Investors Real Estate Trust during the fourth quarter worth $205,000. LPL Financial LLC lifted its stake in shares of Investors Real Estate Trust by 2,259.6% during the fourth quarter. LPL Financial LLC now owns 529,188 shares of the real estate investment trust’s stock worth $3,006,000 after buying an additional 506,761 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Investors Real Estate Trust by 102.6% during the fourth quarter. Millennium Management LLC now owns 130,485 shares of the real estate investment trust’s stock worth $741,000 after buying an additional 66,082 shares during the period. Institutional investors and hedge funds own 53.83% of the company’s stock.

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About Investors Real Estate Trust

Investors Real Estate Trust is a self-advised equity real estate investment trust (REIT). The Company’s business consists of owning and operating income-producing real estate properties. Its segments include Multifamily, Healthcare and All Other. Its investments consist of multifamily and healthcare properties located primarily in the upper Midwest states of Minnesota and North Dakota.

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