Investors Real Estate Trust (NYSE:CSR) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Investors Real Estate Trust (NYSE:CSR) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports. They currently have $114.00 target price on the stock.

According to Zacks, “Centerspace is a real estate development company. It is focused on the ownership, management, acquisitions, redevelopment and development of apartment communities. Centerspace, formerly known as IRET, is based in MINNEAPOLIS. “

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird increased their price objective on shares of Investors Real Estate Trust from $106.00 to $110.00 and gave the stock a neutral rating in a research note on Friday, January 7th. BMO Capital Markets lowered shares of Investors Real Estate Trust from an outperform rating to a market perform rating and raised their target price for the company from $107.00 to $112.00 in a report on Thursday, December 9th. BTIG Research raised their target price on shares of Investors Real Estate Trust from $108.00 to $115.00 and gave the company a buy rating in a report on Monday, December 13th. B. Riley reiterated a buy rating on shares of Investors Real Estate Trust in a research report on Tuesday, September 28th. Finally, Raymond James lifted their price objective on Investors Real Estate Trust from $96.00 to $110.00 and gave the company an outperform rating in a report on Monday, September 20th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Buy and an average target price of $105.63.

NYSE:CSR opened at $100.84 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.06 and a current ratio of 0.06. Investors Real Estate Trust has a 52-week low of $66.91 and a 52-week high of $112.27. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -360.13, a PEG ratio of 3.39 and a beta of 0.93. The business’s fifty day moving average is $105.30 and its 200 day moving average is $98.77.

Investors Real Estate Trust (NYSE:CSR) last posted its quarterly earnings data on Monday, November 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.05. Investors Real Estate Trust had a return on equity of 0.42% and a net margin of 1.48%. During the same period in the previous year, the company posted $0.94 earnings per share. Equities analysts predict that Investors Real Estate Trust will post 3.94 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 14th. Stockholders of record on Monday, January 3rd were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date was Friday, December 31st. Investors Real Estate Trust’s dividend payout ratio is presently -1,028.53%.

A number of institutional investors have recently made changes to their positions in CSR. Russell Investments Group Ltd. purchased a new position in Investors Real Estate Trust during the 2nd quarter valued at about $66,000. Amalgamated Bank acquired a new stake in Investors Real Estate Trust in the 2nd quarter valued at about $509,000. Metropolitan Life Insurance Co NY raised its position in Investors Real Estate Trust by 96,080.0% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 4,809 shares of the company’s stock valued at $379,000 after purchasing an additional 4,804 shares in the last quarter. SG Americas Securities LLC raised its position in Investors Real Estate Trust by 859.6% in the 3rd quarter. SG Americas Securities LLC now owns 21,707 shares of the company’s stock valued at $2,051,000 after purchasing an additional 19,445 shares in the last quarter. Finally, Ensign Peak Advisors Inc raised its position in shares of Investors Real Estate Trust by 41.0% during the 3rd quarter. Ensign Peak Advisors Inc now owns 5,500 shares of the company’s stock worth $520,000 after acquiring an additional 1,600 shares in the last quarter. Institutional investors own 79.09% of the company’s stock.

About Investors Real Estate Trust

Centerspace engages in the ownership, management, acquisition, redevelopment, and development of apartment communities. It focuses on making operational enhancements to improve residents experience, redeveloping existing apartment communities to meet market demands and acquiring new apartment communities in the Minneapolis/St.

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