Zacks Investment Research cut shares of Investors Real Estate Trust (NYSE:IRET) from a hold rating to a sell rating in a research report released on Tuesday.

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

A number of other brokerages also recently issued reports on IRET. ValuEngine upgraded Investors Real Estate Trust from a hold rating to a buy rating in a report on Friday, October 6th. Robert W. Baird reiterated a hold rating and issued a $7.00 price target on shares of Investors Real Estate Trust in a report on Sunday, November 19th. Finally, BidaskClub upgraded Investors Real Estate Trust from a sell rating to a hold rating in a report on Thursday, October 12th.

Investors Real Estate Trust (IRET) traded up $0.13 on Tuesday, reaching $5.74. The company’s stock had a trading volume of 739,600 shares, compared to its average volume of 631,430. The stock has a market cap of $673.41, a P/E ratio of 17.39, a P/E/G ratio of 2.67 and a beta of 0.82. Investors Real Estate Trust has a one year low of $5.49 and a one year high of $7.14. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.17 and a quick ratio of 0.17.

Investors Real Estate Trust (NYSE:IRET) last released its quarterly earnings data on Monday, December 11th. The real estate investment trust reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $53.92 million for the quarter, compared to the consensus estimate of $53.69 million. Investors Real Estate Trust had a negative return on equity of 1.91% and a net margin of 25.90%. Investors Real Estate Trust’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the business posted $0.12 EPS. equities analysts anticipate that Investors Real Estate Trust will post 0.35 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd were issued a $0.07 dividend. The ex-dividend date was Friday, December 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.88%. Investors Real Estate Trust’s dividend payout ratio is presently 84.85%.

In other Investors Real Estate Trust news, Director Michael T. Dance bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The shares were purchased at an average cost of $5.50 per share, for a total transaction of $55,000.00. Following the purchase, the director now directly owns 24,671 shares in the company, valued at $135,690.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey Caira bought 45,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were acquired at an average price of $5.79 per share, for a total transaction of $260,550.00. Following the completion of the purchase, the director now owns 102,807 shares in the company, valued at $595,252.53. The disclosure for this purchase can be found here. Insiders bought a total of 82,000 shares of company stock worth $466,450 over the last quarter. Company insiders own 1.04% of the company’s stock.

A number of hedge funds have recently made changes to their positions in IRET. BlueCrest Capital Management Ltd acquired a new stake in Investors Real Estate Trust during the 2nd quarter worth about $126,000. Neuberger Berman Group LLC lifted its position in Investors Real Estate Trust by 17.3% during the 2nd quarter. Neuberger Berman Group LLC now owns 21,754 shares of the real estate investment trust’s stock worth $135,000 after acquiring an additional 3,201 shares during the period. Aperio Group LLC lifted its position in Investors Real Estate Trust by 86.4% during the 3rd quarter. Aperio Group LLC now owns 28,150 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 13,052 shares during the period. SG Americas Securities LLC lifted its position in Investors Real Estate Trust by 68.8% during the 3rd quarter. SG Americas Securities LLC now owns 30,118 shares of the real estate investment trust’s stock worth $184,000 after acquiring an additional 12,280 shares during the period. Finally, Dynamic Technology Lab Private Ltd lifted its position in Investors Real Estate Trust by 47.0% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 34,733 shares of the real estate investment trust’s stock worth $215,000 after acquiring an additional 11,107 shares during the period. Hedge funds and other institutional investors own 53.63% of the company’s stock.

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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.

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