Investors Real Estate Trust (IRET) Insider Mark Okey Decker, Jr. Acquires 2,500 Shares of Stock
Investors Real Estate Trust (NYSE:IRET) insider Mark Okey Decker, Jr. bought 2,500 shares of the firm’s stock in a transaction dated Thursday, September 29th. The shares were acquired at an average price of $6.09 per share, with a total value of $15,225.00. Following the purchase, the insider now directly owns 111,638 shares of the company’s stock, valued at approximately $679,875.42. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Investors Real Estate Trust (NYSE:IRET) opened at 5.99 on Friday. Investors Real Estate Trust has a one year low of $5.66 and a one year high of $8.39. The firm has a 50-day moving average of $6.29 and a 200-day moving average of $6.50. The stock has a market capitalization of $727.97 million, a PE ratio of 23.86 and a beta of 0.74.
Investors Real Estate Trust (NYSE:IRET) last announced its quarterly earnings data on Thursday, September 8th. The real estate investment trust reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. Investors Real Estate Trust had a net margin of 22.23% and a negative return on equity of 1.83%. The business earned $49.60 million during the quarter, compared to the consensus estimate of $48.74 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Investors Real Estate Trust will post $0.47 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 8.68%. The ex-dividend date is Tuesday, September 13th. Investors Real Estate Trust’s dividend payout ratio is presently 185.71%.
Large investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Investors Real Estate Trust during the fourth quarter worth $9,126,000. Nuveen Asset Management LLC acquired a new stake in shares of Investors Real Estate Trust during the second quarter worth $1,821,000. Vanguard Group Inc. increased its stake in shares of Investors Real Estate Trust by 1.4% in the second quarter. Vanguard Group Inc. now owns 18,466,619 shares of the real estate investment trust’s stock worth $119,480,000 after buying an additional 256,421 shares in the last quarter. Pacific Heights Asset Management LLC increased its stake in shares of Investors Real Estate Trust by 12.5% in the second quarter. Pacific Heights Asset Management LLC now owns 2,250,000 shares of the real estate investment trust’s stock worth $14,558,000 after buying an additional 250,000 shares in the last quarter. Finally, Systematic Financial Management LP acquired a new stake in shares of Investors Real Estate Trust during the second quarter worth $1,610,000. 48.77% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on IRET. Zacks Investment Research upgraded shares of Investors Real Estate Trust from a “sell” rating to a “hold” rating in a research report on Thursday. Wunderlich reduced their price objective on shares of Investors Real Estate Trust from $7.50 to $6.75 and set a “hold” rating for the company in a research report on Friday, July 1st. Janney Montgomery Scott began coverage on shares of Investors Real Estate Trust in a research report on Tuesday, August 23rd. They issued a “buy” rating and a $7.00 price objective for the company. DA Davidson dropped their target price on shares of Investors Real Estate Trust from $7.00 to $6.05 and set a “buy” rating for the company in a report on Monday, September 12th. Finally, Robert W. Baird cut shares of Investors Real Estate Trust from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $8.00 to $7.00 in a report on Thursday, July 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $6.45.
About Investors Real Estate Trust
Investors Real Estate Trust is a self-advised equity real estate investment trust (REIT). The Company’s business consists of owning and operating income-producing real estate properties. Its segments include Multifamily, Healthcare and All Other. Its investments consist of multifamily and healthcare properties located primarily in the upper Midwest states of Minnesota and North Dakota.
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