Investors Real Estate Trust Reit (NYSE:IRET) Shares Up 5.9%

Investors Real Estate Trust Reit (NYSE:IRET)’s share price shot up 5.9% on Thursday . The company traded as high as $69.50 and last traded at $68.84, 111,181 shares changed hands during trading. An increase of 101% from the average session volume of 55,294 shares. The stock had previously closed at $65.03.

A number of research firms have weighed in on IRET. DA Davidson reaffirmed a “buy” rating on shares of Investors Real Estate Trust Reit in a research report on Monday, July 29th. BMO Capital Markets began coverage on Investors Real Estate Trust Reit in a research report on Friday, June 14th. They set an “outperform” rating and a $60.25 price objective for the company. Zacks Investment Research raised Investors Real Estate Trust Reit from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Saturday. ValuEngine raised Investors Real Estate Trust Reit from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Compass Point started coverage on Investors Real Estate Trust Reit in a report on Monday, July 22nd. They issued a “buy” rating and a $67.50 price target for the company. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Investors Real Estate Trust Reit currently has an average rating of “Buy” and a consensus target price of $68.25.

The company has a debt-to-equity ratio of 0.50, a current ratio of 0.69 and a quick ratio of 0.69. The firm’s fifty day moving average is $61.26. The firm has a market capitalization of $764.38 million, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 3.03 and a beta of 0.88.

Investors Real Estate Trust Reit (NYSE:IRET) last posted its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.54) EPS for the quarter, missing the consensus estimate of $0.86 by ($1.40). The business had revenue of $45.61 million during the quarter, compared to analyst estimates of $45.08 million. Investors Real Estate Trust Reit had a negative net margin of 5.82% and a negative return on equity of 2.12%. On average, research analysts anticipate that Investors Real Estate Trust Reit will post 3.61 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC purchased a new position in Investors Real Estate Trust Reit in the 1st quarter valued at approximately $34,000. Bank of Montreal Can purchased a new position in Investors Real Estate Trust Reit in the 2nd quarter valued at approximately $58,000. Daiwa Securities Group Inc. increased its stake in Investors Real Estate Trust Reit by 23.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,110 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 400 shares in the last quarter. BNP Paribas Arbitrage SA purchased a new position in Investors Real Estate Trust Reit in the 2nd quarter valued at approximately $148,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Investors Real Estate Trust Reit in the 2nd quarter valued at approximately $183,000. 61.69% of the stock is owned by institutional investors and hedge funds.

About Investors Real Estate Trust Reit (NYSE:IRET)

IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities. As of December 31, 2018, IRET owned interests in 87 apartment communities consisting of 13,702 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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