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

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

Several other research firms have also recently commented on IRET. Wunderlich decreased their price target on shares of Investors Real Estate Trust from $7.50 to $6.75 and set a “hold” rating for the company 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 set a “buy” rating and a $7.00 price target for the company. Robert W. Baird cut shares of Investors Real Estate Trust from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $8.00 to $7.00 in a report on Thursday, July 7th. Finally, DA Davidson decreased their price target 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $6.45.

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

Investors Real Estate Trust (NYSE:IRET) traded up 1.23% during midday trading on Wednesday, reaching $5.74. 691,045 shares of the company were exchanged. The firm’s 50-day moving average is $6.12 and its 200-day moving average is $6.42. Investors Real Estate Trust has a one year low of $5.60 and a one year high of $8.39. The firm has a market cap of $697.59 million, a P/E ratio of 22.87 and a beta of 0.75.

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

The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 9.06%. The ex-dividend date of this dividend was Tuesday, September 13th. Investors Real Estate Trust’s dividend payout ratio (DPR) is presently 185.71%.

In other news, Director Linda J. Hall purchased 5,000 shares of the company’s stock in a transaction dated Friday, September 30th. The shares were bought at an average price of $5.95 per share, with a total value of $29,750.00. Following the completion of the transaction, the director now directly owns 39,908 shares in the company, valued at approximately $237,452.60. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy P. Mihalick purchased 22,500 shares of the company’s 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 transaction, the chief executive officer now owns 318,409 shares of the company’s stock, valued at $1,824,483.57. The disclosure for this purchase can be found here. 1.34% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in IRET. Investment Centers of America Inc. raised its position 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. raised its position 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 raised its position 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 raised its position 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 raised its position 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. 48.72% of the stock is currently owned by institutional investors.

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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