Investors Real Estate Trust (IRET) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Investors Real Estate Trust (NYSE:IRET) from a hold rating to a buy rating in a report published on Wednesday. They currently have $6.50 price target on the real estate investment trust’s stock.

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

Other equities analysts also recently issued research reports about the stock. ValuEngine raised shares of Investors Real Estate Trust from a hold rating to a buy rating in a research note on Thursday, November 2nd. BidaskClub downgraded shares of Investors Real Estate Trust from a sell rating to a strong sell rating in a research note on Tuesday, October 31st.

Investors Real Estate Trust (NYSE IRET) opened at $5.90 on Wednesday. The company has a market cap of $809.09, a price-to-earnings ratio of 12.98, a PEG ratio of 2.39 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.23 and a current ratio of 0.23. Investors Real Estate Trust has a fifty-two week low of $5.60 and a fifty-two week high of $7.28.

Investors Real Estate Trust (NYSE:IRET) last issued its quarterly earnings results on Monday, September 11th. The real estate investment trust reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $52.70 million for the quarter, compared to analyst estimates of $50.76 million. Investors Real Estate Trust had a net margin of 25.72% and a return on equity of 0.11%. Investors Real Estate Trust’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 earnings per share. research analysts forecast that Investors Real Estate Trust will post 0.41 EPS for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Investors Real Estate Trust by 1.8% during the first quarter. Vanguard Group Inc. now owns 19,554,774 shares of the real estate investment trust’s stock worth $115,960,000 after buying an additional 340,851 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in Investors Real Estate Trust by 7.2% during the second quarter. TIAA CREF Investment Management LLC now owns 333,488 shares of the real estate investment trust’s stock worth $2,071,000 after buying an additional 22,289 shares during the last quarter. Legal & General Group Plc raised its stake 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 worth $2,097,000 after buying an additional 37,026 shares during the last quarter. Susquehanna International Group LLP raised its stake in Investors Real Estate Trust by 155.3% during the second quarter. Susquehanna International Group LLP now owns 473,430 shares of the real estate investment trust’s stock worth $2,940,000 after buying an additional 287,961 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in Investors Real Estate Trust by 3.8% during the first quarter. Teachers Advisors LLC now owns 208,123 shares of the real estate investment trust’s stock worth $1,234,000 after buying an additional 7,623 shares during the last quarter. 53.05% of the stock is owned by institutional investors and hedge funds.

Investors Real Estate Trust Company Profile

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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