Investors Real Estate Trust (NYSE:IRET) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.

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

Several other analysts have also commented on IRET. Wunderlich dropped their price objective on Investors Real Estate Trust from $7.50 to $6.75 and set a “hold” rating on the stock in a report on Friday, July 1st. Robert W. Baird downgraded Investors Real Estate Trust from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $8.00 to $7.00 in a research report on Thursday, July 7th. Janney Montgomery Scott began coverage on Investors Real Estate Trust in a research report on Tuesday, August 23rd. They issued a “buy” rating and a $7.00 target price on the stock. Finally, DA Davidson decreased their target price on Investors Real Estate Trust from $7.00 to $6.05 and set a “buy” rating on the stock in a research report on Monday, September 12th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $6.45.

Analyst Recommendations for Investors Real Estate Trust (NYSE:IRET)

Investors Real Estate Trust (NYSE:IRET) opened at 5.95 on Thursday. The company has a market cap of $723.11 million, a P/E ratio of 23.71 and a beta of 0.74. Investors Real Estate Trust has a 12 month low of $5.66 and a 12 month high of $8.39. The firm has a 50-day moving average price of $6.28 and a 200 day moving average price of $6.49.

Investors Real Estate Trust (NYSE:IRET) last issued its quarterly earnings data on Thursday, September 8th. The real estate investment trust reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. Investors Real Estate Trust had a negative return on equity of 1.83% and a net margin of 22.23%. The company had revenue of $49.60 million for the quarter, compared to analyst estimates of $48.74 million. During the same period last year, the company earned $0.16 earnings per share. Investors Real Estate Trust’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts predict that Investors Real Estate Trust will post $0.47 EPS for the current year.

The business 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. The ex-dividend date is Tuesday, September 13th. This represents a $0.52 dividend on an annualized basis and a yield of 8.74%. Investors Real Estate Trust’s payout ratio is 185.71%.

In other Investors Real Estate Trust news, insider Mark Okey Decker, Jr. bought 9,000 shares of Investors Real Estate Trust stock in a transaction on Friday, September 23rd. The shares were bought at an average price of $6.15 per share, for a total transaction of $55,350.00. Following the completion of the transaction, the insider now directly owns 107,138 shares of the company’s stock, valued at $658,898.70. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Linda J. Hall bought 5,000 shares of Investors Real Estate Trust stock in a transaction on Tuesday, September 13th. The stock was acquired at an average price of $5.89 per share, for a total transaction of $29,450.00. Following the transaction, the director now directly owns 34,908 shares of the company’s stock, valued at $205,608.12. The disclosure for this purchase can be found here. Corporate insiders own 1.34% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Investment Centers of America Inc. increased its stake in Investors Real Estate Trust by 0.9% in the second quarter. Investment Centers of America Inc. now owns 1,619,106 shares of the real estate investment trust’s stock worth $10,472,000 after buying an additional 14,506 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Investors Real Estate Trust by 9.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 658,355 shares of the real estate investment trust’s stock worth $4,260,000 after buying an additional 55,271 shares in the last quarter. Legal & General Group Plc increased its stake in Investors Real Estate Trust by 5.8% in the second quarter. Legal & General Group Plc now owns 263,667 shares of the real estate investment trust’s stock worth $1,703,000 after buying an additional 14,420 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in Investors Real Estate Trust by 28.6% in the second quarter. Parametric Portfolio Associates LLC now owns 281,323 shares of the real estate investment trust’s stock worth $1,820,000 after buying an additional 62,520 shares in the last quarter. Finally, Menta Capital LLC increased its stake in Investors Real Estate Trust by 12.6% in the second quarter. Menta Capital LLC now owns 158,075 shares of the real estate investment trust’s stock worth $1,023,000 after buying an additional 17,725 shares in the last quarter. Institutional investors own 48.77% of the company’s stock.

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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