Investors Real Estate Trust Reit (IRET) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit (NYSE:IRET) from a sell rating to a hold rating in a research report report published on Thursday morning, Zacks.com reports.

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

Separately, ValuEngine upgraded shares of Investors Real Estate Trust Reit from a hold rating to a buy rating in a research report on Friday, May 10th.

Shares of IRET opened at $59.15 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $695.25 million, a PE ratio of 17.45, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. Investors Real Estate Trust Reit has a 12-month low of $46.30 and a 12-month high of $62.24.

Investors Real Estate Trust Reit (NYSE:IRET) last announced its earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($1.40). The business had revenue of $45.61 million for the quarter, compared to analysts’ expectations of $45.08 million. Investors Real Estate Trust Reit had a negative return on equity of 2.23% and a negative net margin of 5.96%. Analysts anticipate that Investors Real Estate Trust Reit will post 3.58 earnings per share for the current year.

Large investors have recently bought and sold shares of the stock. Nordea Investment Management AB purchased a new position in Investors Real Estate Trust Reit in the 4th quarter valued at $900,000. ClariVest Asset Management LLC purchased a new position in Investors Real Estate Trust Reit in the 4th quarter valued at $1,056,000. Quantamental Technologies LLC purchased a new position in Investors Real Estate Trust Reit in the 4th quarter valued at $36,000. AQR Capital Management LLC purchased a new position in Investors Real Estate Trust Reit in the 3rd quarter valued at $173,000. Finally, Norges Bank purchased a new position in Investors Real Estate Trust Reit in the 4th quarter valued at $8,449,000. Hedge funds and other institutional investors own 62.79% of the company’s stock.

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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