Zacks Investment Research Upgrades Investors Real Estate Trust Reit (NYSE:IRET) to “Hold”

Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit (NYSE:IRET) from a sell rating to a hold rating in a research note issued to investors 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 cut shares of Investors Real Estate Trust Reit from a buy rating to a hold rating in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $64.13.

Shares of NYSE:IRET opened at $60.02 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. Investors Real Estate Trust Reit has a 12-month low of $46.30 and a 12-month high of $62.24. The firm has a market cap of $705.48 million, a price-to-earnings ratio of 17.65, a PEG ratio of 2.80 and a beta of 0.93.

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 the consensus estimate of $0.86 by ($1.40). Investors Real Estate Trust Reit had a negative net margin of 5.96% and a negative return on equity of 2.23%. The firm had revenue of $45.61 million for the quarter, compared to analyst estimates of $45.08 million. On average, sell-side analysts forecast that Investors Real Estate Trust Reit will post 3.57 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Friday, June 14th.

Several institutional investors have recently bought and sold shares of IRET. Nisa Investment Advisors LLC purchased a new position in shares of Investors Real Estate Trust Reit during the 1st quarter valued at $34,000. Pinebridge Investments L.P. purchased a new position in shares of Investors Real Estate Trust Reit during the 1st quarter valued at $39,000. Acadian Asset Management LLC purchased a new position in shares of Investors Real Estate Trust Reit during the 4th quarter valued at $145,000. Independent Advisor Alliance purchased a new position in shares of Investors Real Estate Trust Reit during the 1st quarter valued at $220,000. Finally, SG Americas Securities LLC purchased a new position in shares of Investors Real Estate Trust Reit during the 1st quarter valued at $281,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

About Investors Real Estate Trust Reit

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).

Featured Article: Dollar Cost Averaging

Get a free copy of the Zacks research report on Investors Real Estate Trust Reit (IRET)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Investors Real Estate Trust Reit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Real Estate Trust Reit and related companies with MarketBeat.com's FREE daily email newsletter.