Investors Real Estate Trust (NYSE:CSR) Short Interest Update

Investors Real Estate Trust (NYSE:CSR) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 177,000 shares, a decrease of 21.4% from the March 15th total of 225,100 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average trading volume of 46,800 shares, the days-to-cover ratio is presently 3.8 days.

CSR has been the subject of several research reports. Zacks Investment Research cut Investors Real Estate Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, March 9th. BTIG Research reissued a “neutral” rating on shares of Investors Real Estate Trust in a research report on Tuesday, March 30th. Finally, BMO Capital Markets raised Investors Real Estate Trust from a “market perform” rating to a “buy” rating and set a $81.00 price objective for the company in a research report on Monday, January 11th.

A number of institutional investors have recently added to or reduced their stakes in the business. Comerica Bank acquired a new stake in shares of Investors Real Estate Trust in the fourth quarter valued at $990,000. SG Americas Securities LLC acquired a new stake in shares of Investors Real Estate Trust in the fourth quarter valued at $834,000. Finally, Aperio Group LLC acquired a new stake in shares of Investors Real Estate Trust in the fourth quarter valued at $475,000. Hedge funds and other institutional investors own 75.29% of the company’s stock.

Shares of NYSE CSR traded up $1.45 during trading hours on Monday, reaching $69.61. The stock had a trading volume of 64,125 shares, compared to its average volume of 47,969. The stock has a fifty day moving average price of $70.28. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $920.24 million, a P/E ratio of 16.23 and a beta of 0.99. Investors Real Estate Trust has a twelve month low of $54.75 and a twelve month high of $77.30.

Investors Real Estate Trust (NYSE:CSR) last issued its earnings results on Sunday, February 21st. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($1.35). Investors Real Estate Trust had a net margin of 34.57% and a return on equity of 10.77%. Research analysts predict that Investors Real Estate Trust will post 3.4 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 12th. Shareholders of record on Wednesday, March 31st were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $2.80 annualized dividend and a yield of 4.02%. Investors Real Estate Trust’s dividend payout ratio is currently 75.27%.

About Investors Real Estate Trust

IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities. As of September 30, 2020, we owned interests in 67 apartment communities consisting of 11,910 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 PC," respectively).

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