Peregrine Capital Management LLC Acquires 872 Shares of Investors Real Estate Trust Reit (NYSE:IRET)

Peregrine Capital Management LLC grew its holdings in shares of Investors Real Estate Trust Reit (NYSE:IRET) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,254 shares of the real estate investment trust’s stock after purchasing an additional 872 shares during the quarter. Peregrine Capital Management LLC owned about 0.50% of Investors Real Estate Trust Reit worth $4,247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in IRET. Swiss National Bank raised its holdings in Investors Real Estate Trust Reit by 0.9% in the 1st quarter. Swiss National Bank now owns 22,500 shares of the real estate investment trust’s stock worth $1,238,000 after acquiring an additional 200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Investors Real Estate Trust Reit by 8.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,872 shares of the real estate investment trust’s stock worth $158,000 after acquiring an additional 215 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Investors Real Estate Trust Reit by 8.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,118 shares of the real estate investment trust’s stock worth $220,000 after acquiring an additional 246 shares during the period. New York State Teachers Retirement System raised its holdings in Investors Real Estate Trust Reit by 7.7% in the 2nd quarter. New York State Teachers Retirement System now owns 4,725 shares of the real estate investment trust’s stock worth $333,000 after acquiring an additional 338 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Investors Real Estate Trust Reit by 3.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 12,875 shares of the real estate investment trust’s stock worth $908,000 after acquiring an additional 395 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

Several analysts have issued reports on IRET shares. BMO Capital Markets restated a “hold” rating and issued a $72.00 price target on shares of Investors Real Estate Trust Reit in a research report on Wednesday, June 24th. Zacks Investment Research lowered shares of Investors Real Estate Trust Reit from a “hold” rating to a “sell” rating in a research report on Wednesday, June 10th. BTIG Research raised their price target on shares of Investors Real Estate Trust Reit from $72.50 to $79.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Piper Sandler started coverage on shares of Investors Real Estate Trust Reit in a research report on Friday, July 10th. They set an “overweight” rating and a $80.00 target price on the stock. Finally, TheStreet lowered shares of Investors Real Estate Trust Reit from a “c-” rating to a “d” rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $77.50.

NYSE:IRET opened at $72.30 on Friday. The firm has a market cap of $878.45 million, a PE ratio of 12.32 and a beta of 1.07. Investors Real Estate Trust Reit has a 12 month low of $43.58 and a 12 month high of $85.24. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.76. The company’s 50-day moving average price is $71.29 and its two-hundred day moving average price is $68.35.

Investors Real Estate Trust Reit (NYSE:IRET) last released its quarterly earnings results on Monday, May 11th. The real estate investment trust reported ($0.67) EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($1.49). The firm had revenue of $44.41 million during the quarter, compared to analyst estimates of $44.80 million. Investors Real Estate Trust Reit had a net margin of 43.62% and a return on equity of 15.10%. On average, research analysts expect that Investors Real Estate Trust Reit will post 3.49 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend was Monday, June 29th. Investors Real Estate Trust Reit’s dividend payout ratio is presently 75.27%.

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

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