$46.86 Million in Sales Expected for Investors Real Estate Trust Reit (NYSE:IRET) This Quarter

Equities research analysts forecast that Investors Real Estate Trust Reit (NYSE:IRET) will post sales of $46.86 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Investors Real Estate Trust Reit’s earnings. The highest sales estimate is $47.70 million and the lowest is $45.17 million. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Investors Real Estate Trust Reit will report full-year sales of $186.84 million for the current financial year, with estimates ranging from $185.14 million to $187.70 million. For the next year, analysts forecast that the company will post sales of $190.14 million, with estimates ranging from $184.91 million to $195.01 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Investors Real Estate Trust Reit.

IRET has been the subject of a number of research analyst reports. Raymond James initiated coverage on shares of Investors Real Estate Trust Reit in a report on Thursday, October 17th. They issued an “outperform” rating and a $83.00 price target for the company. Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a report on Tuesday, November 12th. BTIG Research initiated coverage on shares of Investors Real Estate Trust Reit in a report on Monday, September 16th. They issued a “buy” rating and a $79.00 price target for the company. ValuEngine downgraded shares of Investors Real Estate Trust Reit from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, BMO Capital Markets increased their price target on shares of Investors Real Estate Trust Reit from $74.00 to $76.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $77.30.

A number of large investors have recently bought and sold shares of the business. Millennium Management LLC increased its holdings in Investors Real Estate Trust Reit by 89.2% during the 3rd quarter. Millennium Management LLC now owns 123,037 shares of the real estate investment trust’s stock valued at $9,187,000 after acquiring an additional 58,004 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Investors Real Estate Trust Reit by 41.7% during the 3rd quarter. Squarepoint Ops LLC now owns 12,200 shares of the real estate investment trust’s stock valued at $911,000 after acquiring an additional 3,589 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Investors Real Estate Trust Reit by 894.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 8,765 shares of the real estate investment trust’s stock valued at $654,000 after acquiring an additional 7,884 shares in the last quarter. Adirondack Research & Management Inc. purchased a new position in Investors Real Estate Trust Reit during the 3rd quarter valued at about $932,000. Finally, Russell Investments Group Ltd. increased its holdings in Investors Real Estate Trust Reit by 18.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 314,592 shares of the real estate investment trust’s stock valued at $23,487,000 after acquiring an additional 48,442 shares in the last quarter. Hedge funds and other institutional investors own 64.29% of the company’s stock.

Shares of IRET traded down $0.25 during trading hours on Friday, reaching $75.41. The company had a trading volume of 43,372 shares, compared to its average volume of 60,055. The firm has a 50 day simple moving average of $75.33 and a 200-day simple moving average of $67.69. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.04 and a current ratio of 0.04. Investors Real Estate Trust Reit has a 12-month low of $46.30 and a 12-month high of $79.00.

Investors Real Estate Trust Reit Company Profile

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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Earnings History and Estimates for Investors Real Estate Trust Reit (NYSE:IRET)

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