Wall Street brokerages expect Investors Real Estate Trust Reit (NYSE:IRET) to announce $46.86 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Investors Real Estate Trust Reit’s earnings, with the lowest sales estimate coming in at $45.17 million and the highest estimate coming in at $47.70 million. The business is expected to report its next 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 fiscal year, with estimates ranging from $185.14 million to $187.70 million. For the next fiscal 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 an average based on a survey of sell-side research firms that that provide coverage for Investors Real Estate Trust Reit.
A number of research analysts have recently issued reports on the stock. upgraded shares of Investors Real Estate Trust Reit from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Tuesday, November 12th. National Securities began coverage on Investors Real Estate Trust Reit in a research report on Wednesday. They set a “buy” rating and a $81.00 price target on the stock. Raymond James assumed coverage on Investors Real Estate Trust Reit in a report on Thursday, October 17th. They set an “outperform” rating and a $83.00 price target for the company. downgraded Investors Real Estate Trust Reit from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Finally, BTIG Research started coverage on Investors Real Estate Trust Reit in a research report on Monday, September 16th. They issued a “buy” rating and a $79.00 price objective for the company. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Investors Real Estate Trust Reit has a consensus rating of “Buy” and a consensus price target of $77.92.
Shares of Investors Real Estate Trust Reit stock opened at $73.32 on Friday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $855.84 million, a price-to-earnings ratio of 21.65 and a beta of 0.84. Investors Real Estate Trust Reit has a 1-year low of $46.30 and a 1-year high of $79.00. The firm’s 50-day moving average price is $74.59 and its two-hundred day moving average price is $68.98.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Tuesday, December 31st.
Institutional investors have recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. bought a new position in Investors Real Estate Trust Reit in the 1st quarter worth approximately $341,000. BNP Paribas Arbitrage SA bought a new stake in shares of Investors Real Estate Trust Reit during the second quarter worth $148,000. JPMorgan Chase & Co. raised its position in shares of Investors Real Estate Trust Reit by 28.5% during the second quarter. JPMorgan Chase & Co. now owns 21,890 shares of the real estate investment trust’s stock worth $1,264,000 after acquiring an additional 4,861 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Investors Real Estate Trust Reit by 53.6% during the second quarter. Russell Investments Group Ltd. now owns 266,150 shares of the real estate investment trust’s stock valued at $15,612,000 after acquiring an additional 92,886 shares during the period. Finally, Bank of Montreal Can acquired a new position in shares of Investors Real Estate Trust Reit during the second quarter valued at $58,000. 64.10% of the stock is owned by institutional investors and hedge funds.
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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