Investors Real Estate Trust Reit (NYSE:IRET) Expected to Announce Earnings of $0.92 Per Share

Brokerages expect that Investors Real Estate Trust Reit (NYSE:IRET) will report earnings per share (EPS) of $0.92 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Investors Real Estate Trust Reit’s earnings, with estimates ranging from $0.91 to $0.93. The company is expected to report its next quarterly earnings results after the market closes on Wednesday, August 7th.

On average, analysts expect that Investors Real Estate Trust Reit will report full year earnings of $3.57 per share for the current fiscal year, with EPS estimates ranging from $3.54 to $3.62. For the next fiscal year, analysts forecast that the firm will report earnings of $3.85 per share, with EPS estimates ranging from $3.74 to $3.91. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Investors Real Estate Trust Reit.

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 for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($1.40). The business had revenue of $45.61 million during the quarter, compared to analyst estimates of $45.08 million. Investors Real Estate Trust Reit had a negative net margin of 5.96% and a negative return on equity of 2.23%.

A number of equities research analysts have weighed in on the company. DA Davidson reaffirmed a “buy” rating on shares of Investors Real Estate Trust Reit in a report on Monday, July 29th. Zacks Investment Research raised Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a report on Tuesday, July 16th. BMO Capital Markets initiated coverage on Investors Real Estate Trust Reit in a report on Friday, June 14th. They set an “outperform” rating and a $60.25 price objective on the stock. ValuEngine downgraded Investors Real Estate Trust Reit from a “buy” rating to a “hold” rating in a report on Saturday, June 22nd. Finally, Compass Point initiated coverage on Investors Real Estate Trust Reit in a report on Monday, July 22nd. They set a “buy” rating and a $67.50 price objective on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $65.25.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its holdings in Investors Real Estate Trust Reit by 1.3% during the 1st quarter. Rhumbline Advisers now owns 19,264 shares of the real estate investment trust’s stock worth $1,154,000 after buying an additional 238 shares during the period. Daiwa Securities Group Inc. raised its position 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 acquiring an additional 400 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Investors Real Estate Trust Reit by 78.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,001 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 441 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Investors Real Estate Trust Reit by 16.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,580 shares of the real estate investment trust’s stock worth $267,000 after acquiring an additional 644 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Investors Real Estate Trust Reit by 3.6% in the 1st quarter. Nordea Investment Management AB now owns 19,001 shares of the real estate investment trust’s stock worth $1,138,000 after acquiring an additional 661 shares in the last quarter. 61.69% of the stock is currently owned by institutional investors.

Shares of IRET stock traded down $1.75 during trading hours on Monday, reaching $62.54. The company’s stock had a trading volume of 88,087 shares, compared to its average volume of 54,704. The company’s 50 day moving average is $60.58. The firm has a market capitalization of $755.41 million, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 3.00 and a beta of 0.88. Investors Real Estate Trust Reit has a fifty-two week low of $46.30 and a fifty-two week high of $64.95. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.50.

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).

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Earnings History and Estimates for Investors Real Estate Trust Reit (NYSE:IRET)

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