Investors Real Estate Trust Reit (NYSE:IRET) Downgraded by ValuEngine

ValuEngine downgraded shares of Investors Real Estate Trust Reit (NYSE:IRET) from a buy rating to a hold rating in a report published on Saturday, June 22nd, ValuEngine reports.

A number of other analysts have also recently commented on IRET. BMO Capital Markets reiterated a hold rating and issued a $9.50 target price on shares of Vicon Industries in a research note on Friday, June 14th. Zacks Investment Research lowered shares of CGI from a buy rating to a hold rating in a research report on Wednesday, June 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $64.13.

Shares of IRET traded up $0.13 during mid-day trading on Friday, reaching $60.31. The stock had a trading volume of 29,933 shares, compared to its average volume of 41,065. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 0.69. The business’s fifty day moving average price is $59.56. Investors Real Estate Trust Reit has a 12 month low of $46.30 and a 12 month high of $62.24. The firm has a market capitalization of $708.88 million, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 2.81 and a beta of 0.89.

Investors Real Estate Trust Reit (NYSE:IRET) last issued its earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.54) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($1.40). Investors Real Estate Trust Reit had a negative return on equity of 2.23% and a negative net margin of 5.96%. The company had revenue of $45.61 million for the quarter, compared to the consensus estimate of $45.08 million. As a group, equities analysts anticipate that Investors Real Estate Trust Reit will post 3.57 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.64%. The ex-dividend date was Friday, June 14th.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers increased its holdings in Investors Real Estate Trust Reit by 1.3% in the 1st quarter. Rhumbline Advisers now owns 19,264 shares of the real estate investment trust’s stock worth $1,154,000 after acquiring an additional 238 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Investors Real Estate Trust Reit by 78.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,001 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 441 shares during the last quarter. Nordea Investment Management AB boosted its stake in Investors Real Estate Trust Reit by 3.6% during the 1st quarter. Nordea Investment Management AB now owns 19,001 shares of the real estate investment trust’s stock worth $1,138,000 after purchasing an additional 661 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Investors Real Estate Trust Reit during the 4th quarter worth $145,000. Finally, Independent Advisor Alliance acquired a new stake in Investors Real Estate Trust Reit during the 1st quarter worth $220,000. 61.57% of the stock is owned by 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 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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