Zacks Investment Research Downgrades Investors Real Estate Trust (IRET) to Hold

Investors Real Estate Trust (NYSE:IRET) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

According to Zacks, “Investors Real Estate Trust is a real estate investment trust operating in the Midwest. “

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Other equities analysts have also issued research reports about the stock. ValuEngine raised shares of Investors Real Estate Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Robert W. Baird set a $6.00 price objective on shares of Investors Real Estate Trust and gave the company a “hold” rating in a research report on Friday, March 2nd.

Shares of IRET opened at $5.19 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.00. The stock has a market cap of $622.99, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 2.38 and a beta of 0.89. Investors Real Estate Trust has a 12-month low of $4.61 and a 12-month high of $6.75.

In related news, Director Michael T. Dance purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The stock was purchased at an average price of $5.50 per share, with a total value of $55,000.00. Following the completion of the transaction, the director now owns 24,671 shares of the company’s stock, valued at approximately $135,690.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Okey Decker, Jr. purchased 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were bought at an average cost of $5.58 per share, with a total value of $139,500.00. Following the transaction, the chief executive officer now directly owns 140,985 shares of the company’s stock, valued at approximately $786,696.30. The disclosure for this purchase can be found here. In the last three months, insiders bought 60,400 shares of company stock valued at $365,110. Company insiders own 1.04% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in Investors Real Estate Trust by 67,497.6% during the third quarter. JPMorgan Chase & Co. now owns 304,189 shares of the real estate investment trust’s stock worth $1,856,000 after buying an additional 303,739 shares during the period. Virginia Retirement Systems ET AL purchased a new stake in Investors Real Estate Trust during the third quarter worth approximately $510,000. Stockman Wealth Management Inc. purchased a new stake in Investors Real Estate Trust during the fourth quarter worth approximately $185,000. Wells Fargo & Company MN grew its stake in Investors Real Estate Trust by 9.9% during the third quarter. Wells Fargo & Company MN now owns 1,379,059 shares of the real estate investment trust’s stock worth $8,426,000 after buying an additional 123,850 shares during the period. Finally, Capital Analysts LLC grew its stake in Investors Real Estate Trust by 1,326.3% during the fourth quarter. Capital Analysts LLC now owns 95,620 shares of the real estate investment trust’s stock worth $4,883,000 after buying an additional 88,916 shares during the period. 57.55% of the stock is owned by hedge funds and other institutional investors.

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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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