ValuEngine upgraded shares of Investors Real Estate Trust (NYSE:IRET) from a hold rating to a buy rating in a report released on Wednesday morning.
A number of other brokerages have also commented on IRET. Zacks Investment Research raised Investors Real Estate Trust from a hold rating to a buy rating and set a $5.75 price target for the company in a research note on Friday, March 23rd. Robert W. Baird set a $6.00 price target on Investors Real Estate Trust and gave the stock a hold rating in a research note on Friday, March 2nd.
NYSE:IRET opened at $5.19 on Wednesday. The company has a market cap of $622.99, a PE ratio of 12.98, a P/E/G ratio of 2.38 and a beta of 0.89. Investors Real Estate Trust has a fifty-two week low of $4.61 and a fifty-two week high of $6.75. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.00.
In other news, Director Michael T. Dance acquired 2,000 shares of the stock in a transaction on Thursday, January 18th. The stock was acquired at an average price of $24.95 per share, with a total value of $49,900.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Kirchmann acquired 6,900 shares of the stock in a transaction on Friday, January 26th. The shares were purchased at an average cost of $5.65 per share, with a total value of $38,985.00. Following the transaction, the chief financial officer now directly owns 31,571 shares of the company’s stock, valued at approximately $178,376.15. The disclosure for this purchase can be found here. Insiders purchased 60,400 shares of company stock valued at $365,110 in the last ninety days. 1.04% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. Fox Run Management L.L.C. purchased a new position in Investors Real Estate Trust during the fourth quarter valued at $108,000. Aperio Group LLC lifted its position in 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 buying an additional 13,052 shares during the period. SG Americas Securities LLC lifted its position in 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 buying an additional 12,280 shares during the period. Stockman Wealth Management Inc. purchased a new position in Investors Real Estate Trust during the fourth quarter valued at $185,000. Finally, Jane Street Group LLC purchased a new position in Investors Real Estate Trust during the fourth quarter valued at $205,000. 57.55% of the stock is owned by institutional investors and hedge funds.
Investors Real Estate Trust Company Profile
IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of multifamily apartment communities. As of January 31, 2018, IRET owned interests in 89 multifamily properties consisting of 13,786 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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