Investors Real Estate Trust (IRET) Position Increased by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. boosted its stake in shares of Investors Real Estate Trust (NYSE:IRET) by 33.1% during the first quarter, Holdings Channel reports. The firm owned 131,236 shares of the real estate investment trust’s stock after buying an additional 32,652 shares during the period. Goldman Sachs Group Inc.’s holdings in Investors Real Estate Trust were worth $778,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Credit Suisse AG increased its stake in shares of Investors Real Estate Trust by 4.9% in the first quarter. Credit Suisse AG now owns 387,676 shares of the real estate investment trust’s stock valued at $2,298,000 after buying an additional 18,278 shares during the period. State Street Corp increased its stake in shares of Investors Real Estate Trust by 6.7% in the first quarter. State Street Corp now owns 2,635,798 shares of the real estate investment trust’s stock valued at $15,632,000 after buying an additional 166,170 shares during the period. Bank of America Corp DE increased its stake in shares of Investors Real Estate Trust by 105.4% in the first quarter. Bank of America Corp DE now owns 42,018 shares of the real estate investment trust’s stock valued at $249,000 after buying an additional 21,560 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Investors Real Estate Trust by 3.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 817,201 shares of the real estate investment trust’s stock valued at $4,847,000 after buying an additional 28,829 shares during the period. Finally, KCG Holdings Inc. increased its stake in shares of Investors Real Estate Trust by 28.4% in the first quarter. KCG Holdings Inc. now owns 33,173 shares of the real estate investment trust’s stock valued at $197,000 after buying an additional 7,331 shares during the period. Institutional investors own 52.80% of the company’s stock.

Investors Real Estate Trust (NYSE IRET) traded up 0.48% on Wednesday, hitting $6.25. 44,967 shares of the company’s stock were exchanged. The company has a market cap of $753.89 million, a PE ratio of 24.13 and a beta of 0.80. Investors Real Estate Trust has a 12-month low of $5.60 and a 12-month high of $7.28. The company’s 50-day moving average price is $6.19 and its 200-day moving average price is $6.13.

Investors Real Estate Trust (NYSE:IRET) last issued its earnings results on Wednesday, June 28th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. Investors Real Estate Trust had a net margin of 21.07% and a negative return on equity of 2.51%. The business had revenue of $54.34 million during the quarter, compared to analysts’ expectations of $51.36 million. During the same quarter in the prior year, the business posted $0.14 EPS. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. Analysts forecast that Investors Real Estate Trust will post ($0.01) earnings per share for the current year.

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Several brokerages have weighed in on IRET. Zacks Investment Research upgraded shares of Investors Real Estate Trust from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. BidaskClub downgraded shares of Investors Real Estate Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, ValuEngine downgraded shares of Investors Real Estate Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Investors Real Estate Trust presently has a consensus rating of “Hold” and an average price target of $6.51.

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

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