Royal Bank of Canada reduced its holdings in Investors Real Estate Trust Reit (NYSE:IRET) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,514 shares of the real estate investment trust’s stock after selling 319 shares during the period. Royal Bank of Canada owned approximately 0.14% of Investors Real Estate Trust Reit worth $969,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Bank of Montreal Can purchased a new position in Investors Real Estate Trust Reit during the second quarter worth about $58,000. Nisa Investment Advisors LLC grew its holdings in Investors Real Estate Trust Reit by 78.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,001 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 441 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Investors Real Estate Trust Reit by 23.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,110 shares of the real estate investment trust’s stock worth $124,000 after acquiring an additional 400 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new position in Investors Real Estate Trust Reit during the 2nd quarter worth approximately $148,000. Finally, Assetmark Inc. acquired a new position in Investors Real Estate Trust Reit during the 2nd quarter worth approximately $178,000. 62.38% of the stock is currently owned by hedge funds and other institutional investors.

IRET has been the subject of several recent analyst reports. Compass Point initiated coverage on shares of Investors Real Estate Trust Reit in a research report on Monday, July 22nd. They set a “buy” rating and a $67.50 price objective for the company. BTIG Research initiated coverage on shares of Investors Real Estate Trust Reit in a research report on Monday, September 16th. They set a “buy” rating and a $79.00 price objective for the company. BMO Capital Markets boosted their price objective on shares of Investors Real Estate Trust Reit from $74.00 to $76.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Zacks Investment Research downgraded shares of Investors Real Estate Trust Reit from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Raymond James initiated coverage on shares of Investors Real Estate Trust Reit in a research report on Thursday, October 17th. They set an “outperform” rating and a $83.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $76.50.

IRET stock traded up $0.19 on Wednesday, hitting $78.63. The company’s stock had a trading volume of 10,859 shares, compared to its average volume of 57,555. The firm has a 50 day moving average of $73.46 and a two-hundred day moving average of $64.56. Investors Real Estate Trust Reit has a 1 year low of $46.30 and a 1 year high of $78.74. The stock has a market cap of $912.26 million, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 3.56 and a beta of 0.84. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.40.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.70 dividend. The ex-dividend date was Friday, September 13th. This represents a $2.80 annualized dividend and a yield of 3.56%.

About Investors Real Estate Trust Reit

IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities. As of December 31, 2018, IRET owned interests in 87 apartment communities consisting of 13,702 apartment homes. IRET's common shares and Series C preferred shares are publicly traded on the New York Stock Exchange (NYSE symbols: IRET and IRET PRC, respectively).

See Also: How to Calculate Compound Annual Growth Rate (CAGR)

Want to see what other hedge funds are holding IRET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Investors Real Estate Trust Reit (NYSE:IRET).

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

Receive News & Ratings for Investors Real Estate Trust Reit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Real Estate Trust Reit and related companies with MarketBeat.com's FREE daily email newsletter.