Investors Real Estate Trust Reit (NYSE:IRET) Downgraded to “Hold” at Zacks Investment Research

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Zacks Investment Research cut shares of Investors Real Estate Trust Reit (NYSE:IRET) from a buy rating to a hold rating in a research report released on Thursday, Zacks.com reports.

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

Other equities analysts also recently issued research reports about the company. BMO Capital Markets upped their price objective on Investors Real Estate Trust Reit from $74.00 to $76.00 and gave the company an outperform rating in a research report on Friday, August 23rd. BTIG Research assumed coverage on Investors Real Estate Trust Reit in a research report on Monday, September 16th. They issued a buy rating and a $79.00 price objective on the stock. ValuEngine downgraded Investors Real Estate Trust Reit from a hold rating to a sell rating in a research report on Friday, October 11th. Compass Point assumed coverage on Investors Real Estate Trust Reit in a research report on Monday, July 22nd. They issued a buy rating and a $67.50 price objective on the stock. Finally, DA Davidson reaffirmed a buy rating on shares of Investors Real Estate Trust Reit in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $76.50.

Investors Real Estate Trust Reit stock traded up $2.02 during mid-day trading on Thursday, hitting $78.09. The company’s stock had a trading volume of 7,013 shares, compared to its average volume of 59,201. The company has a 50 day moving average of $72.62 and a 200-day moving average of $64.13. The stock has a market cap of $865.22 million, a PE ratio of 21.89, a P/E/G ratio of 3.37 and a beta of 0.84. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.49 and a current ratio of 0.49. Investors Real Estate Trust Reit has a one year low of $46.30 and a one year high of $76.69.

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Friday, September 13th.

Institutional investors and hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. grew its position in shares of Investors Real Estate Trust Reit by 18.4% during the 2nd quarter. Bessemer Group Inc. now owns 37,300 shares of the real estate investment trust’s stock worth $2,188,000 after buying an additional 5,800 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of Investors Real Estate Trust Reit by 7.3% during the 2nd quarter. D.A. Davidson & CO. now owns 25,067 shares of the real estate investment trust’s stock worth $1,471,000 after buying an additional 1,704 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Investors Real Estate Trust Reit by 28.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,890 shares of the real estate investment trust’s stock worth $1,264,000 after buying an additional 4,861 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Investors Real Estate Trust Reit by 53.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 266,150 shares of the real estate investment trust’s stock worth $15,612,000 after buying an additional 92,886 shares in the last quarter. Finally, BNP Paribas Arbitrage SA bought a new position in shares of Investors Real Estate Trust Reit during the 2nd quarter worth $148,000. 62.38% of the stock is currently owned by institutional investors and hedge funds.

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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