Investors Real Estate Trust (NYSE:IRET) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $7.50 price target on the real estate investment trust’s stock. Zacks Investment Research’s price objective would indicate a potential upside of 15.21% from the stock’s current price.

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

Other research analysts also recently issued reports about the stock. Robert W. Baird set a $6.00 price objective on shares of Investors Real Estate Trust and gave the company a “hold” rating in a research report on Tuesday, September 13th. DA Davidson lowered their price objective on shares of 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. Finally, Janney Montgomery Scott assumed coverage on shares of Investors Real Estate Trust in a research report on Tuesday, August 23rd. They set a “buy” rating and a $7.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $6.66.

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

Investors Real Estate Trust (NYSE:IRET) opened at 6.51 on Tuesday. The firm has a market capitalization of $791.17 million, a price-to-earnings ratio of 25.94 and a beta of 0.82. The firm’s 50-day moving average is $6.04 and its 200 day moving average is $6.27. Investors Real Estate Trust has a one year low of $5.60 and a one year high of $8.24.

In other news, CEO Timothy P. Mihalick acquired 22,500 shares of Investors Real Estate Trust stock in a transaction dated Thursday, October 6th. The stock was acquired at an average cost of $5.73 per share, for a total transaction of $128,925.00. Following the completion of the purchase, the chief executive officer now owns 318,409 shares of the company’s stock, valued at $1,824,483.57. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Linda J. Hall acquired 5,000 shares of Investors Real Estate Trust stock in a transaction dated Friday, September 30th. The stock was purchased at an average price of $5.95 per share, with a total value of $29,750.00. Following the completion of the purchase, the director now directly owns 39,908 shares of the company’s stock, valued at approximately $237,452.60. The disclosure for this purchase can be found here. 1.34% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of IRET. National Planning Corp boosted its stake in shares of 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 during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of 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 during the last quarter. Advisor Group Inc. purchased a new stake in shares of Investors Real Estate Trust during the second quarter worth $128,000. SG Americas Securities LLC purchased a new stake in shares of Investors Real Estate Trust during the third quarter worth $134,000. Finally, Quantitative Systematic Strategies LLC boosted its stake in shares of 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 during the last quarter. Institutional investors and hedge funds own 48.90% 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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