Investors Real Estate Trust Reit (NYSE:IRET) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Investors Real Estate Trust is a real estate investment trust operating in the Midwest. “

Separately, ValuEngine downgraded Investors Real Estate Trust Reit from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th.

Shares of IRET opened at $59.39 on Thursday. The company has a market capitalization of $691.84 million, a PE ratio of 17.45, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 0.69. Investors Real Estate Trust Reit has a one year low of $46.30 and a one year high of $62.24.

Investors Real Estate Trust Reit (NYSE:IRET) last announced its earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.54) EPS for the quarter, missing the consensus estimate of $0.86 by ($1.40). The business had revenue of $45.61 million during the quarter, compared to analyst estimates of $45.08 million. Investors Real Estate Trust Reit had a negative return on equity of 2.23% and a negative net margin of 5.96%. On average, sell-side analysts expect that Investors Real Estate Trust Reit will post 3.58 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Investors Real Estate Trust Reit by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 17,496,019 shares of the real estate investment trust’s stock worth $104,627,000 after buying an additional 226,952 shares in the last quarter. Norges Bank acquired a new position in Investors Real Estate Trust Reit during the 4th quarter worth $8,449,000. JPMorgan Chase & Co. lifted its holdings in Investors Real Estate Trust Reit by 97.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 304,557 shares of the real estate investment trust’s stock worth $1,821,000 after buying an additional 150,586 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Investors Real Estate Trust Reit by 20.3% during the 1st quarter. Renaissance Technologies LLC now owns 518,189 shares of the real estate investment trust’s stock worth $31,045,000 after buying an additional 87,400 shares in the last quarter. Finally, Martingale Asset Management L P lifted its holdings in Investors Real Estate Trust Reit by 466.8% during the 1st quarter. Martingale Asset Management L P now owns 67,088 shares of the real estate investment trust’s stock worth $4,020,000 after buying an additional 55,252 shares in the last quarter. 62.79% of the stock is currently owned by institutional investors and hedge funds.

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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