$46.86 Million in Sales Expected for Investors Real Estate Trust Reit (NYSE:IRET) This Quarter

Wall Street analysts forecast that Investors Real Estate Trust Reit (NYSE:IRET) will announce $46.86 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Investors Real Estate Trust Reit’s earnings, with the lowest sales estimate coming in at $45.17 million and the highest estimate coming in at $47.70 million. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Investors Real Estate Trust Reit will report full-year sales of $186.84 million for the current financial year, with estimates ranging from $185.14 million to $187.70 million. For the next fiscal year, analysts forecast that the firm will post sales of $190.14 million, with estimates ranging from $184.91 million to $195.01 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Investors Real Estate Trust Reit.

A number of equities research analysts have recently issued reports on the stock. Raymond James assumed coverage on shares of Investors Real Estate Trust Reit in a research report on Thursday, October 17th. They set an “outperform” rating and a $83.00 price target for the company. BTIG Research assumed coverage on shares of Investors Real Estate Trust Reit in a research report on Monday, September 16th. They set a “buy” rating and a $79.00 price target for the company. Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research report on Tuesday, November 12th. BMO Capital Markets lifted their price target on shares of Investors Real Estate Trust Reit from $74.00 to $76.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, ValuEngine downgraded shares of Investors Real Estate Trust Reit from a “hold” rating to a “sell” rating in a research report on Tuesday. One 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’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $77.30.

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

Shares of IRET stock traded down $0.25 during midday trading on Friday, reaching $75.41. 43,372 shares of the company traded hands, compared to its average volume of 60,055. The firm’s 50 day simple moving average is $75.33 and its two-hundred day simple moving average is $67.69. Investors Real Estate Trust Reit has a 1-year low of $46.30 and a 1-year high of $79.00. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.04 and a quick ratio of 0.04.

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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Earnings History and Estimates for Investors Real Estate Trust Reit (NYSE:IRET)

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