Investors Real Estate Trust (NYSE:IRET) insider Jeffrey L. Miller bought 6,000 shares of Investors Real Estate Trust stock in a transaction dated Friday, September 16th. The stock was acquired at an average cost of $5.83 per share, with a total value of $34,980.00. Following the transaction, the insider now owns 288,096 shares of the company’s stock, valued at approximately $1,679,599.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Investors Real Estate Trust (NYSE:IRET) opened at 5.96 on Thursday. The stock has a 50 day moving average of $6.36 and a 200-day moving average of $6.52. The company has a market cap of $724.32 million, a PE ratio of 23.75 and a beta of 0.74. Investors Real Estate Trust has a 12-month low of $5.66 and a 12-month high of $8.39.

Investors Real Estate Trust (NYSE:IRET) last announced its earnings results on Thursday, September 8th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. Investors Real Estate Trust had a negative return on equity of 1.83% and a net margin of 22.23%. The firm earned $49.60 million during the quarter, compared to analyst estimates of $48.74 million. During the same period last year, the firm posted $0.16 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that Investors Real Estate Trust will post $0.47 earnings per share for the current fiscal year.

The firm also recently announced 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. This represents a $0.52 annualized dividend and a dividend yield of 8.72%. The ex-dividend date of this dividend is Tuesday, September 13th. Investors Real Estate Trust’s dividend payout ratio is presently 185.71%.

Several large investors have recently made changes to their positions in the stock. Mizuho Trust & Banking Co. Ltd. raised its stake in shares of Investors Real Estate Trust by 1.3% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 23,499 shares of the real estate investment trust’s stock valued at $152,000 after buying an additional 302 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Investors Real Estate Trust by 1.9% in the second quarter. Hsbc Holdings PLC now owns 38,523 shares of the real estate investment trust’s stock valued at $249,000 after buying an additional 718 shares in the last quarter. National Planning Corp raised its stake in shares of Investors Real Estate Trust by 7.8% in the first quarter. National Planning Corp now owns 16,210 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 1,168 shares in the last quarter. Quantitative Systematic Strategies LLC raised its stake in shares of Investors Real Estate Trust by 8.6% in the second quarter. Quantitative Systematic Strategies LLC now owns 22,720 shares of the real estate investment trust’s stock valued at $149,000 after buying an additional 1,803 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Investors Real Estate Trust by 11.7% in the second quarter. Teacher Retirement System of Texas now owns 17,220 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 1,805 shares in the last quarter. 48.77% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on IRET. Zacks Investment Research cut shares of Investors Real Estate Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Wunderlich cut their price objective on shares of Investors Real Estate Trust from $7.50 to $6.75 and set a “hold” rating for the company in a research report on Friday, July 1st. Janney Montgomery Scott began coverage on shares of Investors Real Estate Trust in a research report on Tuesday, August 23rd. They set a “buy” rating and a $7.00 price objective for the company. DA Davidson cut their price objective on shares of Investors Real Estate Trust from $7.00 to $6.05 and set a “buy” rating for the company in a research report on Monday, September 12th. Finally, Robert W. Baird cut shares of Investors Real Estate Trust from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $8.00 to $7.00 in a research report on Thursday, July 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $6.45.

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.

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