Investors Real Estate Trust (NYSE:IRET) CEO Timothy P. Mihalick purchased 22,500 shares of the stock in a transaction dated Thursday, October 6th. The stock was purchased at an average cost of $5.73 per share, for a total transaction of $128,925.00. Following the completion of the acquisition, the chief executive officer now owns 318,409 shares of the company’s stock, valued at approximately $1,824,483.57. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of Investors Real Estate Trust (NYSE:IRET) opened at 5.71 on Monday. Investors Real Estate Trust has a 52 week low of $5.66 and a 52 week high of $8.39. The company has a 50-day moving average of $6.19 and a 200-day moving average of $6.45. The stock has a market capitalization of $693.94 million, a P/E ratio of 22.75 and a beta of 0.75.

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

Insider Buying and Selling by Quarter for Investors Real Estate Trust (NYSE:IRET)

The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 9.11%. Investors Real Estate Trust’s dividend payout ratio is currently 185.71%.

A number of brokerages have recently issued reports on IRET. Zacks Investment Research raised shares of Investors Real Estate Trust from a “sell” rating to a “hold” rating in a report on Tuesday, September 6th. Wunderlich lowered their price target on shares of 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. Janney Montgomery Scott began coverage on shares of Investors Real Estate Trust in a report on Tuesday, August 23rd. They issued a “buy” rating and a $7.00 price target on the stock. Robert W. Baird downgraded shares of Investors Real Estate Trust from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $8.00 to $7.00 in a report on Thursday, July 7th. Finally, DA Davidson lowered their price target on shares of Investors Real Estate Trust from $7.00 to $6.05 and set a “buy” rating on the stock in a report on Monday, September 12th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Investors Real Estate Trust currently has an average rating of “Buy” and a consensus target price of $6.45.

Several large investors have recently added to or reduced their stakes in IRET. National Planning Corp increased its stake in Investors Real Estate Trust by 7.8% in the first quarter. National Planning Corp now owns 16,210 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 1,168 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Investors Real Estate Trust by 11.7% in the second quarter. Teacher Retirement System of Texas now owns 17,220 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 1,805 shares in the last quarter. Advisor Group Inc. purchased a new stake in Investors Real Estate Trust during the second quarter worth about $128,000. Quantitative Systematic Strategies LLC increased its stake in Investors Real Estate Trust by 8.6% in the second quarter. Quantitative Systematic Strategies LLC now owns 22,720 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 1,803 shares in the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. increased its stake in Investors Real Estate Trust by 1.3% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 23,499 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 302 shares in the last quarter. Institutional investors and hedge funds own 48.72% of the company’s stock.

Investors Real Estate Trust Company Profile

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.

5 Day Chart for NYSE:IRET

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