Wells Fargo & Company MN lowered its position in Investors Real Estate Trust (NYSE:IRET) by 2.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,255,209 shares of the real estate investment trust’s stock after selling 30,742 shares during the period. Wells Fargo & Company MN owned 1.04% of Investors Real Estate Trust worth $7,796,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. IndexIQ Advisors LLC grew its holdings in Investors Real Estate Trust by 11.7% during the second quarter. IndexIQ Advisors LLC now owns 145,347 shares of the real estate investment trust’s stock valued at $903,000 after purchasing an additional 15,267 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Investors Real Estate Trust by 5.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 95,291 shares of the real estate investment trust’s stock valued at $592,000 after purchasing an additional 4,552 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in Investors Real Estate Trust by 17.3% during the second quarter. Neuberger Berman Group LLC now owns 21,754 shares of the real estate investment trust’s stock valued at $135,000 after purchasing an additional 3,201 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in Investors Real Estate Trust by 21.4% during the second quarter. BNP Paribas Arbitrage SA now owns 64,234 shares of the real estate investment trust’s stock valued at $399,000 after purchasing an additional 11,328 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Investors Real Estate Trust by 12.3% during the second quarter. Legal & General Group Plc now owns 337,737 shares of the real estate investment trust’s stock valued at $2,097,000 after purchasing an additional 37,026 shares during the last quarter. Hedge funds and other institutional investors own 53.05% of the company’s stock.

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Several equities analysts have commented on the company. ValuEngine upgraded Investors Real Estate Trust from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research downgraded Investors Real Estate Trust from a “hold” rating to a “sell” rating in a report on Thursday, September 14th. Finally, BidaskClub downgraded Investors Real Estate Trust from a “hold” rating to a “sell” rating in a report on Friday, July 28th.

Investors Real Estate Trust (IRET) opened at 6.11 on Friday. The firm has a market cap of $736.78 million, a P/E ratio of 17.46 and a beta of 0.79. Investors Real Estate Trust has a one year low of $5.60 and a one year high of $7.28. The firm’s 50-day moving average price is $6.06 and its 200 day moving average price is $6.06.

Investors Real Estate Trust (NYSE:IRET) last posted its quarterly earnings results on Monday, September 11th. The real estate investment trust reported $0.10 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. The firm had revenue of $52.70 million for the quarter, compared to analyst estimates of $50.76 million. Investors Real Estate Trust had a return on equity of 0.11% and a net margin of 25.72%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 EPS. On average, equities research analysts forecast that Investors Real Estate Trust will post ($0.45) EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 4.58%. The ex-dividend date was Thursday, September 14th. Investors Real Estate Trust’s dividend payout ratio (DPR) is 80.00%.

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.

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

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