Investors Real Estate Trust Reit (NYSE:IRET) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler started coverage on shares of Investors Real Estate Trust Reit (NYSE:IRET) in a report released on Friday morning, BenzingaRatingsTable reports. The firm issued an overweight rating and a $80.00 target price on the real estate investment trust’s stock.

Several other research analysts have also recently issued reports on IRET. Robert W. Baird cut shares of Investors Real Estate Trust Reit from an outperform rating to a neutral rating and set a $64.00 target price for the company. in a report on Tuesday, March 17th. TheStreet cut shares of Investors Real Estate Trust Reit from a c- rating to a d rating in a research note on Friday, May 15th. Zacks Investment Research downgraded shares of Investors Real Estate Trust Reit from a hold rating to a sell rating in a research report on Wednesday, June 10th. BMO Capital Markets restated a hold rating and set a $72.00 price objective on shares of Investors Real Estate Trust Reit in a research report on Wednesday, June 24th. Finally, BTIG Research increased their price objective on shares of Investors Real Estate Trust Reit from $72.50 to $79.00 and gave the company a buy rating in a research note on Monday, June 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $77.50.

NYSE IRET opened at $72.00 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.76. Investors Real Estate Trust Reit has a 52 week low of $43.58 and a 52 week high of $85.24. The stock has a market capitalization of $874.80 million, a PE ratio of 12.27 and a beta of 1.07. The firm has a 50 day moving average of $71.09 and a two-hundred day moving average of $68.36.

Investors Real Estate Trust Reit (NYSE:IRET) last posted its quarterly earnings results on Monday, May 11th. The real estate investment trust reported ($0.67) EPS for the quarter, missing the consensus estimate of $0.82 by ($1.49). Investors Real Estate Trust Reit had a return on equity of 15.10% and a net margin of 43.62%. The firm had revenue of $44.41 million for the quarter, compared to analyst estimates of $44.80 million. On average, equities research analysts expect that Investors Real Estate Trust Reit will post 3.57 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.89%. The ex-dividend date was Monday, June 29th. Investors Real Estate Trust Reit’s dividend payout ratio (DPR) is 75.27%.

A number of institutional investors have recently modified their holdings of the business. Swiss National Bank grew its stake in shares of Investors Real Estate Trust Reit by 0.9% in the 1st quarter. Swiss National Bank now owns 22,500 shares of the real estate investment trust’s stock valued at $1,238,000 after buying an additional 200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Investors Real Estate Trust Reit by 8.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,872 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 215 shares during the period. Envestnet Asset Management Inc. boosted its position in Investors Real Estate Trust Reit by 3.2% during the second quarter. Envestnet Asset Management Inc. now owns 12,875 shares of the real estate investment trust’s stock worth $908,000 after purchasing an additional 395 shares during the period. Baird Financial Group Inc. boosted its position in Investors Real Estate Trust Reit by 11.6% during the fourth quarter. Baird Financial Group Inc. now owns 4,363 shares of the real estate investment trust’s stock worth $316,000 after purchasing an additional 452 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Investors Real Estate Trust Reit by 8,350.0% during the first quarter. PNC Financial Services Group Inc. now owns 507 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 501 shares during the period. Hedge funds and other institutional investors own 77.58% 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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Analyst Recommendations for Investors Real Estate Trust Reit (NYSE:IRET)

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