Investors Real Estate Trust Reit (NYSE:IRET) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Investors Real Estate Trust Reit (NYSE:IRET) from a hold rating to a sell rating in a research report report published on Wednesday, Zacks.com reports.

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

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets reaffirmed a hold rating and set a $9.50 price target on shares of Vicon Industries in a report on Friday, June 14th. ValuEngine raised Zumiez from a sell rating to a hold rating in a report on Saturday, June 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $64.13.

Shares of NYSE IRET opened at $60.31 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.50. The stock has a 50-day simple moving average of $59.56. Investors Real Estate Trust Reit has a 52-week low of $46.30 and a 52-week high of $62.24. The company has a market capitalization of $708.88 million, a PE ratio of 17.74, a P/E/G ratio of 2.81 and a beta of 0.89.

Investors Real Estate Trust Reit (NYSE:IRET) last issued its earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.54) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($1.40). The business had revenue of $45.61 million during the quarter, compared to the consensus estimate of $45.08 million. Investors Real Estate Trust Reit had a negative return on equity of 2.23% and a negative net margin of 5.96%. On average, research analysts anticipate that Investors Real Estate Trust Reit will post 3.57 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.64%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB bought a new stake in shares of Investors Real Estate Trust Reit during the fourth quarter valued at approximately $900,000. Norges Bank bought a new stake in shares of Investors Real Estate Trust Reit during the fourth quarter valued at approximately $8,449,000. Menta Capital LLC bought a new stake in shares of Investors Real Estate Trust Reit during the first quarter valued at approximately $480,000. Virginia Retirement Systems ET AL raised its holdings in shares of Investors Real Estate Trust Reit by 127.2% during the first quarter. Virginia Retirement Systems ET AL now owns 21,610 shares of the real estate investment trust’s stock valued at $1,295,000 after buying an additional 12,100 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Investors Real Estate Trust Reit during the fourth quarter valued at approximately $617,000. 61.57% of the stock is currently owned by institutional investors.

Investors Real Estate Trust Reit Company Profile

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).

Featured Story: How Important is Technical Analysis of Stocks

Get a free copy of the Zacks research report on Investors Real Estate Trust Reit (IRET)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.