Investors Real Estate Trust Reit (NYSE:IRET) Rating Reiterated by DA Davidson

DA Davidson reissued their buy rating on shares of Investors Real Estate Trust Reit (NYSE:IRET) in a research note released on Monday morning, Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Compass Point assumed coverage on shares of Investors Real Estate Trust Reit in a research note on Monday, July 22nd. They set a buy rating and a $67.50 price target on the stock. Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit from a sell rating to a hold rating in a research note on Tuesday, July 16th. BMO Capital Markets assumed coverage on shares of Investors Real Estate Trust Reit in a research note on Friday, June 14th. They set an outperform rating and a $60.25 price target on the stock. Finally, ValuEngine cut shares of Investors Real Estate Trust Reit from a buy rating to a hold rating in a research note on Saturday, June 22nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Investors Real Estate Trust Reit presently has an average rating of Buy and a consensus price target of $65.25.

Shares of NYSE:IRET traded down $0.09 during trading on Monday, reaching $64.29. 3,076 shares of the stock traded hands, compared to its average volume of 39,514. Investors Real Estate Trust Reit has a 52-week low of $46.30 and a 52-week high of $64.95. 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 firm’s 50-day moving average price is $60.50. The company has a market capitalization of $747.18 million, a PE ratio of 18.84, a P/E/G ratio of 2.99 and a beta of 0.89.

Investors Real Estate Trust Reit (NYSE:IRET) last issued its earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.54) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($1.40). The company had revenue of $45.61 million during 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 predict that Investors Real Estate Trust Reit will post 3.58 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC bought a new stake in Investors Real Estate Trust Reit in the 1st quarter valued at $34,000. Daiwa Securities Group Inc. increased its holdings in shares of Investors Real Estate Trust Reit by 23.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,110 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 400 shares during the last quarter. BNP Paribas Arbitrage SA bought a new stake in shares of Investors Real Estate Trust Reit in the 2nd quarter worth about $148,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Investors Real Estate Trust Reit in the 2nd quarter worth about $183,000. Finally, Independent Advisor Alliance bought a new stake in shares of Investors Real Estate Trust Reit in the 1st quarter worth about $220,000. Hedge funds and other institutional investors own 61.69% 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 Story: Risk Tolerance

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

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.