Brokerages Anticipate Investors Real Estate Trust Reit (NYSE:IRET) Will Announce Earnings of $0.99 Per Share

Wall Street brokerages expect Investors Real Estate Trust Reit (NYSE:IRET) to announce $0.99 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Investors Real Estate Trust Reit’s earnings, with the lowest EPS estimate coming in at $0.98 and the highest estimate coming in at $1.00. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Investors Real Estate Trust Reit will report full-year earnings of $3.74 per share for the current year, with EPS estimates ranging from $3.73 to $3.76. For the next financial year, analysts forecast that the firm will report earnings of $4.00 per share, with EPS estimates ranging from $3.98 to $4.03. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Investors Real Estate Trust Reit.

Several brokerages recently weighed in on IRET. Raymond James began coverage on shares of Investors Real Estate Trust Reit in a research report on Thursday, October 17th. They set an “outperform” rating and a $83.00 price objective on the stock. Zacks Investment Research raised shares of Investors Real Estate Trust Reit from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research report on Tuesday, November 12th. BMO Capital Markets raised their price objective on shares of 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. BTIG Research began coverage on shares of Investors Real Estate Trust Reit in a research report on Monday, September 16th. They set a “buy” rating and a $79.00 price objective on the stock. Finally, ValuEngine lowered shares of Investors Real Estate Trust Reit from a “hold” rating to a “sell” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $77.30.

IRET traded down $0.25 during midday trading on Wednesday, hitting $75.41. 43,372 shares of the company’s stock traded hands, compared to its average volume of 60,055. The stock’s fifty day simple moving average is $75.33 and its 200-day simple moving average is $67.69. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.04 and a quick ratio of 0.04. Investors Real Estate Trust Reit has a one year low of $46.30 and a one year high of $79.00.

Several large investors have recently added to or reduced their stakes in IRET. Russell Investments Group Ltd. boosted its position in Investors Real Estate Trust Reit by 53.6% in the second quarter. Russell Investments Group Ltd. now owns 266,150 shares of the real estate investment trust’s stock worth $15,612,000 after purchasing an additional 92,886 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in Investors Real Estate Trust Reit by 35.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 286,191 shares of the real estate investment trust’s stock valued at $16,790,000 after acquiring an additional 75,262 shares during the period. Millennium Management LLC boosted its holdings in Investors Real Estate Trust Reit by 89.2% during the 3rd quarter. Millennium Management LLC now owns 123,037 shares of the real estate investment trust’s stock valued at $9,187,000 after acquiring an additional 58,004 shares during the period. Peregrine Capital Management LLC purchased a new stake in Investors Real Estate Trust Reit during the 3rd quarter valued at about $3,715,000. Finally, Renaissance Technologies LLC boosted its holdings in Investors Real Estate Trust Reit by 6.3% during the 2nd quarter. Renaissance Technologies LLC now owns 550,889 shares of the real estate investment trust’s stock valued at $32,321,000 after acquiring an additional 32,700 shares during the period. 64.29% of the stock is currently 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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Earnings History and Estimates for Investors Real Estate Trust Reit (NYSE:IRET)

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