Investors Real Estate Trust (NYSE:IRET) insider Mark Okey Decker, Jr. purchased 2,500 shares of the stock in a transaction that occurred on Thursday, September 29th. The stock was purchased at an average price of $6.09 per share, for a total transaction of $15,225.00. Following the acquisition, the insider now owns 111,638 shares in the company, valued at $679,875.42. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Investors Real Estate Trust (NYSE:IRET) last released its quarterly earnings data on Thursday, September 8th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. The business earned $49.60 million during the quarter, compared to analysts’ expectations of $48.74 million. Investors Real Estate Trust had a negative return on equity of 1.83% and a net margin of 22.23%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, September 13th. This represents a $0.52 annualized dividend and a dividend yield of 8.74%. Investors Real Estate Trust’s dividend payout ratio is currently 185.71%.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Investors Real Estate Trust from a “sell” rating to a “hold” rating in a report on Thursday. Wunderlich lowered their price target on Investors Real Estate Trust from $7.50 to $6.75 and set a “hold” rating on the stock in a report on Friday, July 1st. Janney Montgomery Scott started coverage on Investors Real Estate Trust in a report on Tuesday, August 23rd. They issued a “buy” rating and a $7.00 price target on the stock. DA Davidson lowered their target price on Investors Real Estate Trust from $7.00 to $6.05 and set a “buy” rating on the stock in a report on Monday, September 12th. Finally, Robert W. Baird cut Investors Real Estate Trust from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $8.00 to $7.00 in a report on Thursday, July 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $6.45.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRET. Norges Bank acquired a new position in Investors Real Estate Trust during the fourth quarter valued at about $9,126,000. Ramsey Quantitative Systems boosted its position in Investors Real Estate Trust by 5.5% in the first quarter. Ramsey Quantitative Systems now owns 77,665 shares of the real estate investment trust’s stock valued at $564,000 after buying an additional 4,026 shares in the last quarter. BlackRock Inc. boosted its position in Investors Real Estate Trust by 4.1% in the first quarter. BlackRock Inc. now owns 116,524 shares of the real estate investment trust’s stock valued at $846,000 after buying an additional 4,589 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Investors Real Estate Trust by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,526,537 shares of the real estate investment trust’s stock valued at $32,863,000 after buying an additional 73,063 shares in the last quarter. Finally, Menta Capital LLC boosted its position in Investors Real Estate Trust by 111.9% in the first quarter. Menta Capital LLC now owns 140,350 shares of the real estate investment trust’s stock valued at $1,019,000 after buying an additional 74,120 shares in the last quarter. 48.77% of the stock is owned by institutional investors and hedge funds.
About Investors Real Estate Trust
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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