Investors Real Estate Trust (NYSE:IRET) insider Jeffrey L. Miller bought 6,000 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The shares were purchased at an average price of $5.83 per share, with a total value of $34,980.00. Following the transaction, the insider now directly owns 288,096 shares in the company, valued at $1,679,599.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

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 Zacks’ consensus estimate of $0.12. The company earned $49.60 million during the quarter, compared to analysts’ expectations of $48.74 million. Investors Real Estate Trust had a net margin of 22.23% and a negative return on equity of 1.83%. Investors Real Estate Trust’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.16 earnings per share. Analysts forecast that Investors Real Estate Trust will post $0.47 EPS 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 $0.13 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 8.72%. Investors Real Estate Trust’s payout ratio is presently 185.71%.

IRET has been the subject of a number of recent analyst reports. Wunderlich dropped their target price 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. 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. Robert W. Baird cut shares of Investors Real Estate Trust from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $8.00 to $7.00 in a research report on Thursday, July 7th. Janney Montgomery Scott began coverage on shares of Investors Real Estate Trust in a research report on Tuesday, August 23rd. They issued a “buy” rating and a $7.00 price objective for the company. Finally, DA Davidson lowered 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $6.45.

Several large investors have recently made changes to their positions in the stock. National Planning Corp boosted 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 worth $104,000 after buying an additional 1,168 shares during the last quarter. Teacher Retirement System of Texas boosted 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 worth $111,000 after buying an additional 1,805 shares during the last quarter. Advisor Group Inc. acquired a new stake in shares of Investors Real Estate Trust during the second quarter worth about $128,000. Quantitative Systematic Strategies LLC boosted 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 worth $149,000 after buying an additional 1,803 shares during the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. boosted 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 worth $152,000 after buying an additional 302 shares during the last quarter. 48.77% of the stock is owned by institutional investors.

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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