Investors Real Estate Trust (NYSE:IRET) Upgraded to “Buy” at ValuEngine

Investors Real Estate Trust (NYSE:IRET) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, November 2nd.

Several other research analysts have also recently commented on the company. BidaskClub raised Investors Real Estate Trust from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Zacks Investment Research raised Investors Real Estate Trust from a “sell” rating to a “hold” rating in a research report on Friday, August 11th.

Investors Real Estate Trust (IRET) traded down $0.02 during mid-day trading on Thursday, hitting $5.84. The stock had a trading volume of 274,600 shares, compared to its average volume of 449,413. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $706.64, a PE ratio of 13.02, a P/E/G ratio of 2.40 and a beta of 0.80. Investors Real Estate Trust has a 52 week low of $5.60 and a 52 week high of $7.28.

Investors Real Estate Trust (NYSE:IRET) last posted its quarterly earnings data on Monday, September 11th. The real estate investment trust reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $52.70 million during the quarter, compared to analysts’ expectations of $50.76 million. Investors Real Estate Trust had a return on equity of 0.11% and a net margin of 25.72%. Investors Real Estate Trust’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 earnings per share. sell-side analysts anticipate that Investors Real Estate Trust will post 0.41 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position 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 valued at $115,960,000 after purchasing an additional 340,851 shares during the last quarter. State Street Corp boosted its position in Investors Real Estate Trust by 5.4% during the second quarter. State Street Corp now owns 2,778,387 shares of the real estate investment trust’s stock valued at $17,253,000 after purchasing an additional 142,589 shares during the last quarter. Northern Trust Corp boosted its position in Investors Real Estate Trust by 2.8% during the second quarter. Northern Trust Corp now owns 2,067,920 shares of the real estate investment trust’s stock valued at $12,842,000 after purchasing an additional 56,517 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Investors Real Estate Trust by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,840,762 shares of the real estate investment trust’s stock valued at $11,247,000 after purchasing an additional 21,246 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Investors Real Estate Trust by 9.9% during the third quarter. Wells Fargo & Company MN now owns 1,379,059 shares of the real estate investment trust’s stock valued at $8,426,000 after purchasing an additional 123,850 shares during the last quarter. 53.05% of the stock is owned by hedge funds and other institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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