Investors Real Estate Trust (IRET) Insider Buys $16,936.00 in Stock
Investors Real Estate Trust (NYSE:IRET) insider Mark Okey Decker, Jr. bought 2,900 shares of the business’s stock in a transaction dated Wednesday, October 5th. The stock was acquired at an average cost of $5.84 per share, for a total transaction of $16,936.00. Following the purchase, the insider now owns 114,538 shares in the company, valued at approximately $668,901.92. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
Investors Real Estate Trust (NYSE:IRET) opened at 5.71 on Monday. The firm’s 50-day moving average is $6.19 and its 200 day moving average is $6.45. Investors Real Estate Trust has a one year low of $5.66 and a one year high of $8.39. The firm has a market capitalization of $693.94 million, a price-to-earnings ratio of 22.75 and a beta of 0.75.
Investors Real Estate Trust (NYSE:IRET) last announced its quarterly earnings data on Thursday, September 8th. The real estate investment trust reported $0.12 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.12. Investors Real Estate Trust had a net margin of 22.23% and a negative return on equity of 1.83%. The firm had revenue of $49.60 million for the quarter, compared to the consensus estimate of $48.74 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Analysts forecast that Investors Real Estate Trust will post $0.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 9.11%. The ex-dividend date was Tuesday, September 13th. Investors Real Estate Trust’s payout ratio is presently 185.71%.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Investors Real Estate Trust from a “sell” rating to a “hold” rating in a research note on Thursday, September 29th. Wunderlich dropped their price target on shares of Investors Real Estate Trust from $7.50 to $6.75 and set a “hold” rating on the stock in a research note on Friday, July 1st. Janney Montgomery Scott began coverage on shares of Investors Real Estate Trust in a research note on Tuesday, August 23rd. They set a “buy” rating and a $7.00 price target on the stock. DA Davidson dropped their price target on shares of Investors Real Estate Trust from $7.00 to $6.05 and set a “buy” rating on the stock in a research note on Monday, September 12th. Finally, Robert W. Baird downgraded shares of Investors Real Estate Trust from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $8.00 to $7.00 in a research note on Thursday, July 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Investors Real Estate Trust currently has a consensus rating of “Buy” and an average price target of $6.45.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Investors Real Estate Trust during the fourth quarter worth approximately $9,126,000. Nuveen Asset Management LLC bought a new position in shares of Investors Real Estate Trust during the second quarter worth approximately $1,821,000. Vanguard Group Inc. increased its position in shares of Investors Real Estate Trust by 1.4% in the second quarter. Vanguard Group Inc. now owns 18,466,619 shares of the real estate investment trust’s stock worth $119,480,000 after buying an additional 256,421 shares during the last quarter. Pacific Heights Asset Management LLC increased its position in shares of Investors Real Estate Trust by 12.5% in the second quarter. Pacific Heights Asset Management LLC now owns 2,250,000 shares of the real estate investment trust’s stock worth $14,558,000 after buying an additional 250,000 shares during the last quarter. Finally, Systematic Financial Management LP acquired a new stake in Investors Real Estate Trust during the second quarter valued at approximately $1,610,000. 48.72% of the stock is currently owned by hedge funds and other institutional investors.
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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