Geode Capital Management LLC increased its stake in shares of Investors Real Estate Trust (NYSE:IRET) by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 919,476 shares of the real estate investment trust’s stock after buying an additional 21,089 shares during the period. Geode Capital Management LLC’s holdings in Investors Real Estate Trust were worth $5,452,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in 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 valued at $115,960,000 after buying an additional 340,851 shares in the last quarter. Pacific Heights Asset Management LLC increased its position in 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 valued at $14,825,000 after buying an additional 50,000 shares in the last quarter. Norges Bank purchased a new position in Investors Real Estate Trust during the fourth quarter valued at $9,363,000. Wells Fargo & Company MN increased its position in Investors Real Estate Trust by 30.7% in the first quarter. Wells Fargo & Company MN now owns 1,285,951 shares of the real estate investment trust’s stock valued at $7,625,000 after buying an additional 301,721 shares in the last quarter. Finally, Grace & White Inc. NY increased its position in Investors Real Estate Trust by 8.4% in the first quarter. Grace & White Inc. NY now owns 932,946 shares of the real estate investment trust’s stock valued at $5,532,000 after buying an additional 72,480 shares in the last quarter. Hedge funds and other institutional investors own 53.01% of the company’s stock.

Shares of Investors Real Estate Trust (IRET) traded down 1.15% during trading on Friday, hitting $6.03. The stock had a trading volume of 90,078 shares. The stock’s 50-day moving average price is $6.20 and its 200-day moving average price is $6.16. The company has a market cap of $727.35 million, a P/E ratio of 23.28 and a beta of 0.80. Investors Real Estate Trust has a one year low of $5.60 and a one year high of $7.28.

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

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A number of equities analysts have recently commented on the company. Zacks Investment Research downgraded Investors Real Estate Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. BidaskClub downgraded Investors Real Estate Trust from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, ValuEngine downgraded Investors Real Estate Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $6.51.

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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Institutional Ownership by Quarter for Investors Real Estate Trust (NYSE:IRET)

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