Global X Management Co. LLC lowered its stake in Investors Real Estate Trust (NYSE:IRET) by 0.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,109,265 shares of the real estate investment trust’s stock after selling 104 shares during the period. Global X Management Co. LLC owned approximately 0.91% of Investors Real Estate Trust worth $6,600,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in IRET. Pacific Heights Asset Management LLC increased its stake in shares of Investors Real Estate Trust by 6.7% in the third quarter. Pacific Heights Asset Management LLC now owns 2,400,000 shares of the real estate investment trust’s stock valued at $14,280,000 after buying an additional 150,000 shares in the last quarter. IndexIQ Advisors LLC increased its stake in shares of Investors Real Estate Trust by 24.9% in the third quarter. IndexIQ Advisors LLC now owns 120,718 shares of the real estate investment trust’s stock valued at $718,000 after buying an additional 24,086 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Investors Real Estate Trust by 17.3% in the third quarter. Bank of New York Mellon Corp now owns 1,058,111 shares of the real estate investment trust’s stock valued at $6,297,000 after buying an additional 155,725 shares in the last quarter. Trutina Financial LLC increased its stake in shares of Investors Real Estate Trust by 1.1% in the third quarter. Trutina Financial LLC now owns 87,550 shares of the real estate investment trust’s stock valued at $521,000 after buying an additional 940 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Investors Real Estate Trust by 23.1% in the third quarter. First Trust Advisors LP now owns 281,477 shares of the real estate investment trust’s stock valued at $1,675,000 after buying an additional 52,774 shares in the last quarter. Institutional investors and hedge funds own 48.91% of the company’s stock.

Institutional Ownership by Quarter for Investors Real Estate Trust (NYSE:IRET)

Shares of Investors Real Estate Trust (NYSE:IRET) traded down 3.01% during midday trading on Tuesday, hitting $6.44. The stock had a trading volume of 402,907 shares. Investors Real Estate Trust has a 1-year low of $5.60 and a 1-year high of $8.24. The firm’s 50-day moving average price is $6.19 and its 200-day moving average price is $6.29. The stock has a market cap of $782.66 million, a price-to-earnings ratio of 25.66 and a beta of 0.82.

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Several analysts recently weighed in on the company. Zacks Investment Research upgraded Investors Real Estate Trust from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a research report on Tuesday, November 15th. Robert W. Baird set a $6.00 target price on Investors Real Estate Trust and gave the company a “hold” rating in a research report on Tuesday, September 13th. DA Davidson dropped their target price on Investors Real Estate Trust from $7.00 to $6.05 and set a “buy” rating for the company in a research report on Monday, September 12th. Finally, Janney Montgomery Scott assumed 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 for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Investors Real Estate Trust presently has a consensus rating of “Buy” and a consensus price target of $6.66.

In related news, insider Jeffrey L. Miller bought 6,000 shares of the stock in a transaction dated Friday, September 16th. The stock was bought at an average price of $5.83 per share, with a total value of $34,980.00. Following the purchase, the insider now owns 288,096 shares in the company, valued at approximately $1,679,599.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linda J. Hall bought 5,000 shares of the stock in a transaction dated Tuesday, September 13th. The stock was bought at an average cost of $5.89 per share, with a total value of $29,450.00. Following the purchase, the director now owns 34,908 shares in the company, valued at approximately $205,608.12. The disclosure for this purchase can be found here. Company insiders own 1.34% 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.

5 Day Chart for NYSE:IRET

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