Investors Real Estate Trust Reit (IRET) Downgraded by Zacks Investment Research

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Zacks Investment Research lowered shares of Investors Real Estate Trust Reit (NYSE:IRET) from a hold rating to a sell rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Investors Real Estate Trust is a real estate investment trust operating in the Midwest. “

Separately, ValuEngine lowered shares of Investors Real Estate Trust Reit from a buy rating to a hold rating in a research note on Tuesday, April 9th.

Shares of NYSE IRET opened at $59.69 on Wednesday. The stock has a market capitalization of $701.60 million, a PE ratio of 17.66, a price-to-earnings-growth ratio of 2.79 and a beta of 0.96. 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 1 year low of $46.30 and a 1 year high of $62.24.

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 consensus estimate of $0.86 by ($1.40). The business had revenue of $45.61 million during the quarter, compared to the consensus estimate 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%. Analysts expect that Investors Real Estate Trust Reit will post 3.59 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in Investors Real Estate Trust Reit by 92.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 34,780 shares of the real estate investment trust’s stock worth $2,083,000 after acquiring an additional 16,664 shares during the last quarter. Pinebridge Investments L.P. bought a new position in Investors Real Estate Trust Reit in the first quarter valued at approximately $39,000. Geode Capital Management LLC lifted its stake in Investors Real Estate Trust Reit by 13.6% in the first quarter. Geode Capital Management LLC now owns 143,354 shares of the real estate investment trust’s stock valued at $8,588,000 after buying an additional 17,119 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Investors Real Estate Trust Reit by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 123,356 shares of the real estate investment trust’s stock valued at $7,391,000 after buying an additional 1,895 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Investors Real Estate Trust Reit by 20.3% in the first quarter. Renaissance Technologies LLC now owns 518,189 shares of the real estate investment trust’s stock valued at $31,045,000 after buying an additional 87,400 shares in the last quarter. 62.54% of the stock is currently owned by institutional investors and hedge funds.

Investors Real Estate Trust Reit Company Profile

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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