Zacks Investment Research Upgrades INVESTORS REAL ESTATE TRUST REIT Common Stock (IRET) to “Hold”

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INVESTORS REAL ESTATE TRUST REIT Common Stock (NYSE:IRET) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.

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

Shares of IRET opened at $5.46 on Thursday. The firm has a market cap of $650.69 million, a PE ratio of 14.37, a price-to-earnings-growth ratio of 2.57 and a beta of 0.74. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.20. INVESTORS REAL ESTATE TRUST REIT Common Stock has a one year low of $4.61 and a one year high of $6.34.

INVESTORS REAL ESTATE TRUST REIT Common Stock (NYSE:IRET) last issued its quarterly earnings results on Wednesday, June 27th. The real estate investment trust reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.15). The business had revenue of $44.19 million for the quarter, compared to analyst estimates of $43.93 million. INVESTORS REAL ESTATE TRUST REIT Common Stock had a net margin of 60.17% and a negative return on equity of 7.70%. sell-side analysts anticipate that INVESTORS REAL ESTATE TRUST REIT Common Stock will post 0.35 EPS for the current year.

In other news, CFO John Kirchmann bought 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 12th. The stock was acquired at an average price of $5.49 per share, with a total value of $98,820.00. Following the completion of the purchase, the chief financial officer now directly owns 49,571 shares of the company’s stock, valued at approximately $272,144.79. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark Okey Decker, Jr. bought 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 3rd. The shares were purchased at an average cost of $5.55 per share, with a total value of $49,950.00. Following the purchase, the chief executive officer now directly owns 172,085 shares of the company’s stock, valued at $955,071.75. The disclosure for this purchase can be found here. Insiders have bought 35,662 shares of company stock worth $195,149 over the last three months. Corporate insiders own 0.85% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in INVESTORS REAL ESTATE TRUST REIT Common Stock by 3.3% during the second quarter. BlackRock Inc. now owns 10,931,896 shares of the real estate investment trust’s stock valued at $60,453,000 after buying an additional 353,461 shares in the last quarter. Renaissance Technologies LLC boosted its stake in INVESTORS REAL ESTATE TRUST REIT Common Stock by 15.0% during the second quarter. Renaissance Technologies LLC now owns 3,126,945 shares of the real estate investment trust’s stock valued at $17,292,000 after buying an additional 407,400 shares in the last quarter. Northern Trust Corp boosted its stake in INVESTORS REAL ESTATE TRUST REIT Common Stock by 4.9% during the first quarter. Northern Trust Corp now owns 2,152,922 shares of the real estate investment trust’s stock valued at $11,174,000 after buying an additional 101,496 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in INVESTORS REAL ESTATE TRUST REIT Common Stock by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,955,620 shares of the real estate investment trust’s stock valued at $10,815,000 after buying an additional 18,101 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in INVESTORS REAL ESTATE TRUST REIT Common Stock by 38.1% during the first quarter. Wells Fargo & Company MN now owns 1,454,466 shares of the real estate investment trust’s stock valued at $7,549,000 after buying an additional 401,167 shares in the last quarter. 57.14% of the stock is owned by institutional investors and hedge funds.

INVESTORS REAL ESTATE TRUST REIT Common Stock Company Profile

IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities. As of April 30, 2018, IRET owned interests in 90 apartment communities consisting of 14,176 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).

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