Zacks: Brokerages Anticipate Investors Real Estate Trust (IRET) Will Announce Earnings of $0.10 Per Share

Wall Street brokerages expect that Investors Real Estate Trust (NYSE:IRET) will announce $0.10 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Investors Real Estate Trust’s earnings. Investors Real Estate Trust posted earnings per share of ($0.01) during the same quarter last year, which would suggest a positive year over year growth rate of 1,100%. The company is expected to announce its next quarterly earnings results on Monday, March 12th.

On average, analysts expect that Investors Real Estate Trust will report full-year earnings of $0.36 per share for the current year, with EPS estimates ranging from $0.34 to $0.37. For the next financial year, analysts anticipate that the company will report earnings of $0.40 per share, with EPS estimates ranging from $0.37 to $0.46. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Investors Real Estate Trust.

Investors Real Estate Trust (NYSE:IRET) last announced its quarterly earnings data on Monday, December 11th. The real estate investment trust reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The business had revenue of $53.92 million for the quarter, compared to analyst estimates of $53.69 million. Investors Real Estate Trust had a net margin of 25.90% and a negative return on equity of 1.91%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.12 EPS.

Several research analysts recently commented on IRET shares. BidaskClub lowered shares of Investors Real Estate Trust from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. ValuEngine upgraded shares of Investors Real Estate Trust from a “hold” rating to a “buy” rating in a report on Monday, September 11th. Zacks Investment Research lowered shares of Investors Real Estate Trust from a “hold” rating to a “sell” rating in a report on Thursday, September 14th. Finally, Robert W. Baird restated a “hold” rating and issued a $7.00 price target on shares of Investors Real Estate Trust in a report on Sunday, November 19th.

In related news, Director Jeffrey Caira purchased 45,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was acquired at an average price of $5.79 per share, with a total value of $260,550.00. Following the completion of the transaction, the director now owns 102,807 shares of the company’s stock, valued at $595,252.53. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.04% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in IRET. BlueCrest Capital Management Ltd acquired a new position in shares of Investors Real Estate Trust during the second quarter valued at $126,000. Neuberger Berman Group LLC boosted its holdings in shares of Investors Real Estate Trust by 17.3% during the second quarter. Neuberger Berman Group LLC now owns 21,754 shares of the real estate investment trust’s stock valued at $135,000 after acquiring an additional 3,201 shares during the period. Aperio Group LLC boosted its holdings in shares of Investors Real Estate Trust by 86.4% during the third quarter. Aperio Group LLC now owns 28,150 shares of the real estate investment trust’s stock valued at $172,000 after acquiring an additional 13,052 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Investors Real Estate Trust by 68.8% during the third quarter. SG Americas Securities LLC now owns 30,118 shares of the real estate investment trust’s stock valued at $184,000 after acquiring an additional 12,280 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in shares of Investors Real Estate Trust by 47.0% during the second quarter. Dynamic Technology Lab Private Ltd now owns 34,733 shares of the real estate investment trust’s stock valued at $215,000 after acquiring an additional 11,107 shares during the period. 53.63% of the stock is owned by hedge funds and other institutional investors.

Shares of Investors Real Estate Trust (NYSE:IRET) traded down $0.07 during mid-day trading on Friday, hitting $5.68. 557,101 shares of the stock traded hands, compared to its average volume of 688,728. The stock has a market cap of $690.21, a price-to-earnings ratio of 17.21, a P/E/G ratio of 2.69 and a beta of 0.81. Investors Real Estate Trust has a 1-year low of $5.60 and a 1-year high of $7.28. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.17 and a current ratio of 0.17.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.93%. Investors Real Estate Trust’s dividend payout ratio is currently 84.85%.

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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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