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

Wall Street analysts predict that Investors Real Estate Trust Reit (NYSE:IRET) will announce sales of $46.86 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Investors Real Estate Trust Reit’s earnings. The lowest sales estimate is $45.17 million and the highest is $47.70 million. The business is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, 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 expect that the firm will report sales of $190.14 million, with estimates ranging from $184.91 million to $195.01 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Investors Real Estate Trust Reit.

Several research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Investors Real Estate Trust Reit from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Raymond James started coverage on shares of Investors Real Estate Trust Reit in a report on Thursday, October 17th. They set an “outperform” rating and a $83.00 price objective for the company. National Securities started coverage on shares of Investors Real Estate Trust Reit in a report on Wednesday, December 18th. They set a “buy” rating and a $81.00 price objective for the company. Finally, ValuEngine raised shares of Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a report on Saturday, January 4th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $77.92.

Investors Real Estate Trust Reit stock traded down $0.23 during mid-day trading on Tuesday, hitting $73.63. The stock had a trading volume of 47,407 shares, compared to its average volume of 43,049. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.90. The firm’s 50 day moving average is $73.18 and its 200 day moving average is $70.72. Investors Real Estate Trust Reit has a one year low of $55.99 and a one year high of $79.00.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Tuesday, December 31st.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in 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 worth $23,487,000 after purchasing an additional 48,442 shares during the period. Millennium Management LLC raised its position in 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 worth $9,187,000 after purchasing an additional 58,004 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in Investors Real Estate Trust Reit by 19.1% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 15,857 shares of the real estate investment trust’s stock worth $1,184,000 after purchasing an additional 2,542 shares during the period. Adirondack Research & Management Inc. purchased a new stake in Investors Real Estate Trust Reit in the 3rd quarter worth about $932,000. Finally, Rhumbline Advisers raised its position in Investors Real Estate Trust Reit by 7.4% in the 3rd quarter. Rhumbline Advisers now owns 20,866 shares of the real estate investment trust’s stock worth $1,558,000 after purchasing an additional 1,440 shares during the period. Hedge funds and other institutional investors own 64.12% 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).

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