Zacks Investment Research Upgrades Investors Real Estate Trust Reit (IRET) to “Buy”

Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit (NYSE:IRET) from a hold rating to a buy rating in a research report released on Wednesday morning. They currently have $6.00 target price on the real estate investment trust’s stock.

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

Several other brokerages have also recently weighed in on IRET. Boenning Scattergood started coverage on Investors Real Estate Trust Reit in a report on Monday, September 17th. They set a neutral rating for the company. Robert W. Baird raised Investors Real Estate Trust Reit from a neutral rating to an outperform rating in a research note on Tuesday, September 25th.

NYSE:IRET traded down $0.04 on Wednesday, hitting $5.43. 277,806 shares of the stock were exchanged, compared to its average volume of 339,914. The stock has a market capitalization of $650.12 million, a P/E ratio of 14.29, a P/E/G ratio of 2.59 and a beta of 0.77. Investors Real Estate Trust Reit has a 52 week low of $4.61 and a 52 week high of $6.08. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.15.

Investors Real Estate Trust Reit (NYSE:IRET) last announced its quarterly earnings data on Monday, September 10th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.07). The firm had revenue of $45.95 million for the quarter, compared to the consensus estimate of $44.94 million. Investors Real Estate Trust Reit had a negative return on equity of 4.92% and a net margin of 69.92%. As a group, equities analysts predict that Investors Real Estate Trust Reit will post 0.35 EPS for the current year.

Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in shares of Investors Real Estate Trust Reit by 1,853.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 21,484 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 20,384 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Investors Real Estate Trust Reit by 167.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 29,190 shares of the real estate investment trust’s stock valued at $161,000 after acquiring an additional 18,257 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Investors Real Estate Trust Reit by 175.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,112 shares of the real estate investment trust’s stock valued at $172,000 after acquiring an additional 19,800 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Investors Real Estate Trust Reit by 82.8% in the 2nd quarter. SG Americas Securities LLC now owns 33,104 shares of the real estate investment trust’s stock valued at $183,000 after acquiring an additional 14,990 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of Investors Real Estate Trust Reit by 131.1% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 35,416 shares of the real estate investment trust’s stock valued at $184,000 after acquiring an additional 20,092 shares during the last quarter. 57.88% of the stock is 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 July 31, 2018, we owned interests in 87 apartment communities consisting of 13,703 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).

Featured Article: Understanding Compound Annual Growth Rate (CAGR)

Get a free copy of the Zacks research report on Investors Real Estate Trust Reit (IRET)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Investors Real Estate Trust Reit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Real Estate Trust Reit and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply