Investors Real Estate Trust (IRET) Rating Increased to Hold at BidaskClub

Investors Real Estate Trust (NYSE:IRET) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Other analysts also recently issued reports about the stock. ValuEngine upgraded shares of Investors Real Estate Trust from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Zacks Investment Research upgraded shares of Investors Real Estate Trust from a “sell” rating to a “hold” rating in a report on Friday, August 11th.

Investors Real Estate Trust (IRET) opened at 6.28 on Thursday. The stock has a market capitalization of $757.28 million, a price-to-earnings ratio of 17.94 and a beta of 0.79. Investors Real Estate Trust has a 12 month low of $5.60 and a 12 month high of $7.28. The company has a 50-day moving average of $6.07 and a 200 day moving average of $6.08.

Investors Real Estate Trust (NYSE:IRET) last announced its quarterly earnings results on Monday, September 11th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $52.70 million for the quarter, compared to the consensus estimate of $50.76 million. Investors Real Estate Trust had a net margin of 25.72% and a return on equity of 0.11%. Investors Real Estate Trust’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 EPS. On average, equities research analysts anticipate that Investors Real Estate Trust will post ($0.45) earnings per share for the current fiscal year.

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Several institutional investors have recently bought and sold shares of IRET. Evercore Wealth Management LLC bought a new stake in shares of Investors Real Estate Trust in the 2nd quarter worth about $3,297,000. Vanguard Group Inc. increased its holdings in shares of Investors Real Estate Trust by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 19,554,774 shares of the real estate investment trust’s stock worth $115,960,000 after buying an additional 340,851 shares during the last quarter. Susquehanna International Group LLP increased its holdings in shares of Investors Real Estate Trust by 155.3% in the 2nd quarter. Susquehanna International Group LLP now owns 473,430 shares of the real estate investment trust’s stock worth $2,940,000 after buying an additional 287,961 shares during the last quarter. State Street Corp increased its holdings in shares of Investors Real Estate Trust by 6.7% in the 1st quarter. State Street Corp now owns 2,635,798 shares of the real estate investment trust’s stock worth $15,632,000 after buying an additional 166,170 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Investors Real Estate Trust by 9.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 894,551 shares of the real estate investment trust’s stock worth $5,556,000 after buying an additional 77,350 shares during the last quarter. Hedge funds and other institutional investors own 53.05% of the company’s stock.

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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