Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit (NYSE:IRET) from a hold rating to a buy rating in a report published on Wednesday morning. Zacks Investment Research currently has $6.00 price objective on the real estate investment trust’s stock.

According to Zacks, “Investors Real Estate Trust is a real estate investment trust operating in the Midwest. “

Several other analysts also recently weighed in on the stock. Robert W. Baird upgraded shares of Investors Real Estate Trust Reit from a neutral rating to an outperform rating in a report on Tuesday, September 25th. Boenning Scattergood started coverage on shares of Investors Real Estate Trust Reit in a report on Monday, September 17th. They issued a neutral rating for the company.

Shares of NYSE IRET opened at $5.43 on Wednesday. The company has a market cap of $650.12 million, a PE ratio of 14.29, a PEG ratio of 2.59 and a beta of 0.77. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.72 and a quick ratio of 0.72. Investors Real Estate Trust Reit has a 1 year low of $4.61 and a 1 year high of $6.08.

Investors Real Estate Trust Reit (NYSE:IRET) last posted its earnings results on Monday, September 10th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.07). Investors Real Estate Trust Reit had a net margin of 69.92% and a negative return on equity of 4.92%. The company had revenue of $45.95 million during the quarter, compared to analyst estimates of $44.94 million. On average, sell-side analysts expect that Investors Real Estate Trust Reit will post 0.35 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC increased its holdings in Investors Real Estate Trust Reit by 82.8% in the 2nd quarter. SG Americas Securities LLC now owns 33,104 shares of the real estate investment trust’s stock valued at $183,000 after purchasing an additional 14,990 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in Investors Real Estate Trust Reit by 49.0% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 46,788 shares of the real estate investment trust’s stock valued at $259,000 after buying an additional 15,395 shares during the period. Dimensional Fund Advisors LP boosted its position in Investors Real Estate Trust Reit by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,955,620 shares of the real estate investment trust’s stock valued at $10,815,000 after buying an additional 18,101 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Investors Real Estate Trust Reit by 167.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 29,190 shares of the real estate investment trust’s stock valued at $161,000 after buying an additional 18,257 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Investors Real Estate Trust Reit by 175.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,112 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 19,800 shares during the period. Hedge funds and other institutional investors own 57.88% of the company’s stock.

Investors Real Estate Trust Reit Company Profile

IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities. As of July 31, 2018, we owned interests in 87 apartment communities consisting of 13,703 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).

See Also: Price to Earnings Ratio (PE) Basics

Get a free copy of the Zacks research report on Investors Real Estate Trust Reit (IRET)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.