Investors Real Estate Trust (NYSE:CSR) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Investors Real Estate Trust (NYSE:CSR) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports. The firm currently has $114.00 price target on the stock.

According to Zacks, “Centerspace is a real estate development company. It is focused on the ownership, management, acquisitions, redevelopment and development of apartment communities. Centerspace, formerly known as IRET, is based in MINNEAPOLIS. “

A number of other research analysts have also issued reports on the stock. BTIG Research increased their target price on shares of Investors Real Estate Trust from $108.00 to $115.00 and gave the stock a buy rating in a research report on Monday, December 13th. BMO Capital Markets downgraded shares of Investors Real Estate Trust from an outperform rating to a market perform rating and raised their price target for the company from $107.00 to $112.00 in a research note on Thursday, December 9th. Raymond James lifted their target price on shares of Investors Real Estate Trust from $96.00 to $110.00 and gave the stock an outperform rating in a research note on Monday, September 20th. Robert W. Baird raised their price target on shares of Investors Real Estate Trust from $106.00 to $110.00 and gave the stock a neutral rating in a report on Friday, January 7th. Finally, B. Riley reiterated a buy rating on shares of Investors Real Estate Trust in a report on Tuesday, September 28th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $105.63.

Shares of NYSE:CSR opened at $100.84 on Tuesday. The company has a market cap of $1.44 billion, a P/E ratio of -360.13, a P/E/G ratio of 3.39 and a beta of 0.93. The stock’s 50-day moving average is $105.30 and its 200-day moving average is $98.77. Investors Real Estate Trust has a 52-week low of $66.91 and a 52-week high of $112.27. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.06 and a current ratio of 0.06.

Investors Real Estate Trust (NYSE:CSR) last released its earnings results on Monday, November 1st. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.05. Investors Real Estate Trust had a net margin of 1.48% and a return on equity of 0.42%. During the same quarter last year, the firm posted $0.94 earnings per share. As a group, equities analysts predict that Investors Real Estate Trust will post 3.94 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, January 14th. Shareholders of record on Monday, January 3rd were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Friday, December 31st. Investors Real Estate Trust’s payout ratio is -1,028.53%.

Several institutional investors have recently added to or reduced their stakes in CSR. SG Americas Securities LLC raised its holdings in shares of Investors Real Estate Trust by 859.6% in the third quarter. SG Americas Securities LLC now owns 21,707 shares of the company’s stock valued at $2,051,000 after acquiring an additional 19,445 shares in the last quarter. Amalgamated Bank acquired a new position in Investors Real Estate Trust in the 2nd quarter valued at $509,000. Metropolitan Life Insurance Co NY increased its stake in shares of Investors Real Estate Trust by 96,080.0% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 4,809 shares of the company’s stock worth $379,000 after acquiring an additional 4,804 shares during the last quarter. Ensign Peak Advisors Inc increased its stake in shares of Investors Real Estate Trust by 41.0% in the 3rd quarter. Ensign Peak Advisors Inc now owns 5,500 shares of the company’s stock worth $520,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Investors Real Estate Trust in the 2nd quarter worth $66,000. Hedge funds and other institutional investors own 79.09% of the company’s stock.

About Investors Real Estate Trust

Centerspace engages in the ownership, management, acquisition, redevelopment, and development of apartment communities. It focuses on making operational enhancements to improve residents experience, redeveloping existing apartment communities to meet market demands and acquiring new apartment communities in the Minneapolis/St.

See Also: Municipal Bonds

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