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

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

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

A number of other analysts also recently issued reports on the stock. ValuEngine upgraded shares of Zumiez from a sell rating to a hold rating in a report on Saturday, June 22nd. BMO Capital Markets restated a hold rating and set a $9.50 price objective on shares of Vicon Industries in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $64.13.

NYSE IRET traded down $1.15 during trading hours on Wednesday, reaching $60.18. 40,200 shares of the company were exchanged, compared to its average volume of 55,181. Investors Real Estate Trust Reit has a 1 year low of $46.30 and a 1 year high of $62.24. The firm has a 50 day simple moving average of $59.54. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 0.69.

Investors Real Estate Trust Reit (NYSE:IRET) last posted its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($1.40). Investors Real Estate Trust Reit had a negative return on equity of 2.23% and a negative net margin of 5.96%. The company had revenue of $45.61 million for the quarter, compared to analysts’ expectations of $45.08 million. As a group, analysts forecast that Investors Real Estate Trust Reit will post 3.57 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, June 14th. This represents a $2.80 dividend on an annualized basis and a yield of 4.65%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC bought a new position in Investors Real Estate Trust Reit during the first quarter worth about $34,000. Independent Advisor Alliance bought a new position in Investors Real Estate Trust Reit during the first quarter worth about $220,000. SG Americas Securities LLC bought a new position in Investors Real Estate Trust Reit during the first quarter worth about $281,000. Amundi Pioneer Asset Management Inc. bought a new position in Investors Real Estate Trust Reit during the first quarter worth about $341,000. Finally, Dupont Capital Management Corp bought a new position in Investors Real Estate Trust Reit during the first quarter worth about $422,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

About Investors Real Estate Trust Reit

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).

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