Investors Real Estate Trust Reit (NYSE:IRET) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

Other research analysts have also recently issued research reports about the company. BTIG Research initiated coverage on Investors Real Estate Trust Reit in a research note on Monday, September 16th. They set a “buy” rating and a $79.00 target price for the company. BMO Capital Markets raised their target price on Investors Real Estate Trust Reit from $74.00 to $76.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Raymond James initiated coverage on Investors Real Estate Trust Reit in a research note on Thursday, October 17th. They set an “outperform” rating and a $83.00 target price for the company. Finally, Zacks Investment Research raised Investors Real Estate Trust Reit from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. Investors Real Estate Trust Reit has a consensus rating of “Buy” and an average price target of $77.30.

Shares of IRET stock opened at $75.65 on Tuesday. The stock has a 50-day simple moving average of $75.30 and a 200 day simple moving average of $67.61. Investors Real Estate Trust Reit has a fifty-two week low of $46.30 and a fifty-two week high of $79.00. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.90.

Several large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its position in shares of Investors Real Estate Trust Reit by 89.2% in the 3rd quarter. Millennium Management LLC now owns 123,037 shares of the real estate investment trust’s stock valued at $9,187,000 after purchasing an additional 58,004 shares during the period. Squarepoint Ops LLC boosted its position in shares of Investors Real Estate Trust Reit by 41.7% in the 3rd quarter. Squarepoint Ops LLC now owns 12,200 shares of the real estate investment trust’s stock valued at $911,000 after purchasing an additional 3,589 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Investors Real Estate Trust Reit by 894.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 8,765 shares of the real estate investment trust’s stock valued at $654,000 after purchasing an additional 7,884 shares during the period. Adirondack Research & Management Inc. acquired a new position in shares of Investors Real Estate Trust Reit in the 3rd quarter valued at $932,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Investors Real Estate Trust Reit by 18.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 314,592 shares of the real estate investment trust’s stock valued at $23,487,000 after purchasing an additional 48,442 shares during the period. Institutional investors and hedge funds own 64.29% of the company’s stock.

About Investors Real Estate Trust Reit

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).

Featured Story: Why are trading ranges significant?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Investors Real Estate Trust Reit (NYSE:IRET)

Receive News & Ratings for Investors Real Estate Trust Reit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Real Estate Trust Reit and related companies with MarketBeat.com's FREE daily email newsletter.