ValuEngine Lowers Investors Real Estate Trust Reit (NYSE:IRET) to Hold

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ValuEngine downgraded shares of Investors Real Estate Trust Reit (NYSE:IRET) from a buy rating to a hold rating in a report published on Saturday, ValuEngine reports.

A number of other research firms have also issued reports on IRET. Zacks Investment Research lowered Investors Real Estate Trust Reit from a hold rating to a sell rating in a report on Wednesday, May 15th. BMO Capital Markets started coverage on Investors Real Estate Trust Reit in a report on Friday, June 14th. They issued an outperform rating and a $60.25 target price on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $64.13.

NYSE:IRET opened at $59.26 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average of $59.56. Investors Real Estate Trust Reit has a 12-month low of $46.30 and a 12-month high of $62.24.

Investors Real Estate Trust Reit (NYSE:IRET) last released its earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.54) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($1.40). The company 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%. Equities analysts predict that Investors Real Estate Trust Reit will post 3.57 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend is Friday, June 14th.

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers grew its holdings in Investors Real Estate Trust Reit by 1.3% during the first quarter. Rhumbline Advisers now owns 19,264 shares of the real estate investment trust’s stock worth $1,154,000 after acquiring an additional 238 shares during the period. Nisa Investment Advisors LLC acquired a new position in Investors Real Estate Trust Reit during the first quarter worth $34,000. Nordea Investment Management AB grew its holdings in Investors Real Estate Trust Reit by 3.6% during the first 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 during the period. Acadian Asset Management LLC acquired a new position in Investors Real Estate Trust Reit during the fourth quarter worth $145,000. Finally, Independent Advisor Alliance acquired a new position in Investors Real Estate Trust Reit during the first quarter worth $220,000. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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