Investors Real Estate Trust (NYSE:IRET) issued its quarterly earnings data on Monday. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10, Bloomberg Earnings reports. Investors Real Estate Trust had a net margin of 21.07% and a negative return on equity of 2.51%. The firm had revenue of $52.70 million during the quarter, compared to the consensus estimate of $50.76 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year.
Shares of Investors Real Estate Trust (NYSE:IRET) traded up 1.29% on Monday, reaching $6.26. 241,973 shares of the company traded hands. Investors Real Estate Trust has a 1-year low of $5.60 and a 1-year high of $7.28. The stock has a market capitalization of $755.09 million, a price-to-earnings ratio of 24.17 and a beta of 0.79. The company has a 50-day moving average of $6.19 and a 200-day moving average of $6.09.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Thursday, September 14th. Investors Real Estate Trust’s dividend payout ratio is currently 107.70%.
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A number of equities research analysts have recently issued reports on IRET shares. Zacks Investment Research raised shares of Investors Real Estate Trust from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. ValuEngine downgraded shares of Investors Real Estate Trust from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. Finally, BidaskClub downgraded shares of Investors Real Estate Trust from a “hold” rating to a “sell” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $6.51.
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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