Investors Real Estate Trust Reit (NYSE:IRET) Stock Rating Upgraded by Zacks Investment Research

Investors Real Estate Trust Reit (NYSE:IRET) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

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

Other research analysts have also recently issued reports about the stock. National Securities started coverage on shares of Investors Real Estate Trust Reit in a report on Wednesday, December 18th. They set a “buy” rating and a $81.00 target price on the stock. ValuEngine raised shares of Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a report on Saturday, January 4th. Finally, Compass Point cut shares of Investors Real Estate Trust Reit from a “buy” rating to a “neutral” rating and set a $80.00 target price on the stock. in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $80.00.

IRET stock traded up $0.68 during mid-day trading on Friday, hitting $77.26. 218,233 shares of the company were exchanged, compared to its average volume of 161,467. The business has a 50 day simple moving average of $75.48 and a 200-day simple moving average of $73.55. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $890.63 million, a PE ratio of 12.88 and a beta of 0.84. Investors Real Estate Trust Reit has a 1-year low of $55.99 and a 1-year high of $85.24.

Investors Real Estate Trust Reit (NYSE:IRET) last issued its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $3.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $2.90. The firm had revenue of $45.78 million during the quarter, compared to the consensus estimate of $46.86 million. Investors Real Estate Trust Reit had a net margin of 44.58% and a return on equity of 16.24%. Equities research analysts expect that Investors Real Estate Trust Reit will post 3.99 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. Baird Financial Group Inc. boosted its position in Investors Real Estate Trust Reit by 11.6% in the fourth quarter. Baird Financial Group Inc. now owns 4,363 shares of the real estate investment trust’s stock valued at $316,000 after buying an additional 452 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Investors Real Estate Trust Reit in the fourth quarter valued at approximately $45,000. Cubist Systematic Strategies LLC acquired a new stake in Investors Real Estate Trust Reit in the fourth quarter valued at approximately $216,000. AQR Capital Management LLC boosted its position in Investors Real Estate Trust Reit by 11.9% in the fourth quarter. AQR Capital Management LLC now owns 6,608 shares of the real estate investment trust’s stock valued at $479,000 after buying an additional 702 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in Investors Real Estate Trust Reit by 2.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 42,377 shares of the real estate investment trust’s stock valued at $3,072,000 after buying an additional 1,134 shares in the last quarter. 63.64% of the stock is currently owned by institutional investors and hedge funds.

Investors Real Estate Trust Reit Company Profile

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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Analyst Recommendations for Investors Real Estate Trust Reit (NYSE:IRET)

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