Shares of Investors Real Estate Trust Reit (NYSE:IRET) have received a consensus recommendation of “Hold” from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $76.00.
Several equities analysts have recently weighed in on the stock. Raymond James lowered shares of Investors Real Estate Trust Reit from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 20th. TheStreet cut Investors Real Estate Trust Reit from a “c-” rating to a “d” rating in a report on Friday, May 15th. Zacks Investment Research raised Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a research note on Thursday, August 13th. BMO Capital Markets reaffirmed a “hold” rating and set a $72.00 target price on shares of Investors Real Estate Trust Reit in a research report on Wednesday, June 24th. Finally, Piper Sandler assumed coverage on Investors Real Estate Trust Reit in a research report on Friday, July 10th. They issued an “overweight” rating and a $80.00 price target for the company.
IRET stock opened at $70.83 on Tuesday. The stock has a 50-day moving average price of $71.50 and a two-hundred day moving average price of $68.14. Investors Real Estate Trust Reit has a 12-month low of $43.58 and a 12-month high of $85.24. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.68. The company has a market cap of $884.27 million, a PE ratio of 13.21 and a beta of 1.06.
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Investors Real Estate Trust Reit (NYSE:IRET) last posted its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported ($0.44) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.05. Investors Real Estate Trust Reit had a return on equity of 13.32% and a net margin of 40.53%. Equities analysts forecast that Investors Real Estate Trust Reit will post 3.5 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRET. BlackRock Inc. lifted its position in shares of Investors Real Estate Trust Reit by 78.4% during the 1st quarter. BlackRock Inc. now owns 2,014,758 shares of the real estate investment trust’s stock valued at $110,811,000 after acquiring an additional 885,306 shares during the period. State Street Corp boosted its stake in Investors Real Estate Trust Reit by 35.2% in the first quarter. State Street Corp now owns 499,487 shares of the real estate investment trust’s stock valued at $27,800,000 after acquiring an additional 129,924 shares during the last quarter. Principal Financial Group Inc. bought a new position in Investors Real Estate Trust Reit during the first quarter valued at $4,849,000. Bank of New York Mellon Corp raised its stake in shares of Investors Real Estate Trust Reit by 118.9% in the first quarter. Bank of New York Mellon Corp now owns 143,646 shares of the real estate investment trust’s stock valued at $7,900,000 after buying an additional 78,015 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in shares of Investors Real Estate Trust Reit in the second quarter valued at $4,802,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.
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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