BidaskClub lowered shares of Investors Real Estate Trust (NYSE:IRET) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

A number of other research firms have also recently weighed in on IRET. Zacks Investment Research raised shares of Investors Real Estate Trust from a sell rating to a hold rating in a research note on Thursday, April 13th. ValuEngine cut shares of Investors Real Estate Trust from a buy rating to a hold rating in a research note on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Investors Real Estate Trust presently has a consensus rating of Hold and an average target price of $6.51.

Shares of Investors Real Estate Trust (NYSE:IRET) traded down 0.16% during mid-day trading on Friday, hitting $6.21. 72,136 shares of the stock traded hands. Investors Real Estate Trust has a 12-month low of $5.60 and a 12-month high of $7.28. The firm’s 50 day moving average price is $6.21 and its 200 day moving average price is $6.18. The firm has a market cap of $749.06 million, a price-to-earnings ratio of 23.98 and a beta of 0.80.

Investors Real Estate Trust (NYSE:IRET) last posted its quarterly earnings results on Wednesday, June 28th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.01. Investors Real Estate Trust had a net margin of 21.07% and a negative return on equity of 2.51%. The business had revenue of $54.34 million for the quarter, compared to analysts’ expectations of $51.36 million. During the same period in the prior year, the company posted $0.14 EPS. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities research analysts predict that Investors Real Estate Trust will post ($0.01) EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th were paid a dividend of $0.07 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.50%. Investors Real Estate Trust’s dividend payout ratio (DPR) is presently 107.70%.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Investors Real Estate Trust by 1.8% in the first quarter. Vanguard Group Inc. now owns 19,554,774 shares of the real estate investment trust’s stock worth $115,960,000 after buying an additional 340,851 shares during the last quarter. State Street Corp boosted its stake in shares of Investors Real Estate Trust by 6.7% in the first quarter. State Street Corp now owns 2,635,798 shares of the real estate investment trust’s stock worth $15,632,000 after buying an additional 166,170 shares during the last quarter. Pacific Heights Asset Management LLC boosted its stake in shares of Investors Real Estate Trust by 2.0% in the first quarter. Pacific Heights Asset Management LLC now owns 2,500,000 shares of the real estate investment trust’s stock worth $14,825,000 after buying an additional 50,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Investors Real Estate Trust by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,766,295 shares of the real estate investment trust’s stock worth $10,474,000 after buying an additional 72,973 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Investors Real Estate Trust during the fourth quarter worth approximately $9,363,000. 52.94% of the stock is currently 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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