Investors Real Estate Trust Reit (NYSE:IRET) Downgraded to Sell at ValuEngine

ValuEngine cut shares of Investors Real Estate Trust Reit (NYSE:IRET) from a hold rating to a sell rating in a report published on Friday morning, ValuEngine reports.

Several other brokerages have also recently commented on IRET. Compass Point began coverage on shares of Investors Real Estate Trust Reit in a research note on Monday, July 22nd. They set a buy rating and a $67.50 price objective for the company. DA Davidson reaffirmed a buy rating on shares of Investors Real Estate Trust Reit in a research note on Monday, July 29th. Zacks Investment Research raised shares of Investors Real Estate Trust Reit from a hold rating to a buy rating and set a $77.00 price objective for the company in a research note on Saturday, August 10th. BMO Capital Markets boosted their price objective on shares of 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. Finally, BTIG Research began coverage on shares of Investors Real Estate Trust Reit in a research note on Monday, September 16th. They set a buy rating and a $79.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $74.88.

Shares of NYSE IRET traded up $0.50 during midday trading on Friday, hitting $74.40. The company’s stock had a trading volume of 44,733 shares, compared to its average volume of 63,336. The stock has a fifty day moving average price of $72.06 and a 200 day moving average price of $63.68. Investors Real Estate Trust Reit has a one year low of $46.30 and a one year high of $75.53. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $865.27 million, a price-to-earnings ratio of 22.00, a P/E/G ratio of 3.39 and a beta of 0.84.



The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.80 annualized dividend and a yield of 3.76%.

A number of large investors have recently modified their holdings of the stock. Bank of Montreal Can purchased a new position in Investors Real Estate Trust Reit in the 2nd quarter worth approximately $58,000. Nisa Investment Advisors LLC grew its stake in Investors Real Estate Trust Reit by 78.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,001 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 441 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Investors Real Estate Trust Reit by 23.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,110 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 400 shares in the last quarter. BNP Paribas Arbitrage SA purchased a new position in Investors Real Estate Trust Reit in the 2nd quarter worth approximately $148,000. Finally, Assetmark Inc. purchased a new position in Investors Real Estate Trust Reit in the 2nd quarter worth approximately $178,000. 62.41% of the stock is owned by institutional investors.

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).

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