Martingale Asset Management L P reduced its stake in Investors Real Estate Trust Reit (NYSE:IRET) by 63.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,836 shares of the real estate investment trust’s stock after selling 20,164 shares during the quarter. Martingale Asset Management L P owned approximately 0.10% of Investors Real Estate Trust Reit worth $582,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Investors Real Estate Trust Reit during the 4th quarter worth approximately $617,000. Acadian Asset Management LLC purchased a new stake in shares of Investors Real Estate Trust Reit in the fourth quarter worth approximately $145,000. ClariVest Asset Management LLC purchased a new stake in shares of Investors Real Estate Trust Reit in the fourth quarter worth approximately $1,056,000. Chicago Equity Partners LLC purchased a new stake in shares of Investors Real Estate Trust Reit in the fourth quarter worth approximately $547,000. Finally, Quantamental Technologies LLC purchased a new stake in shares of Investors Real Estate Trust Reit in the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 60.62% of the company’s stock.

Shares of Investors Real Estate Trust Reit stock opened at $58.10 on Friday. The company has a market capitalization of $703.12 million, a PE ratio of 15.29, a P/E/G ratio of 2.69 and a beta of 0.97. Investors Real Estate Trust Reit has a 52 week low of $46.30 and a 52 week high of $62.24. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.64 and a quick ratio of 0.64.

Investors Real Estate Trust Reit (NYSE:IRET) last released its earnings results on Monday, December 10th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.05. Investors Real Estate Trust Reit had a negative return on equity of 5.78% and a net margin of 63.45%. The company had revenue of $45.64 million during the quarter, compared to analyst estimates of $45.26 million. On average, equities research analysts predict that Investors Real Estate Trust Reit will post 3.63 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a $0.70 dividend. This is a positive change from Investors Real Estate Trust Reit’s previous quarterly dividend of $0.07. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date is Thursday, March 14th. Investors Real Estate Trust Reit’s dividend payout ratio (DPR) is presently 73.68%.

In related news, Director Mary J. Twinem purchased 1,025 shares of the business’s stock in a transaction dated Monday, December 31st. The stock was purchased at an average cost of $48.43 per share, with a total value of $49,640.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael T. Dance acquired 1,000 shares of the stock in a transaction that occurred on Monday, December 31st. The stock was acquired at an average price of $47.32 per share, for a total transaction of $47,320.00. The disclosure for this purchase can be found here. Insiders bought 15,973 shares of company stock valued at $181,607 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

IRET has been the subject of several analyst reports. Zacks Investment Research downgraded Investors Real Estate Trust Reit from a “buy” rating to a “hold” rating in a research note on Wednesday, November 28th. Boenning Scattergood reissued a “hold” rating on shares of Investors Real Estate Trust Reit in a research note on Tuesday, December 11th. Finally, ValuEngine raised Investors Real Estate Trust Reit from a “hold” rating to a “buy” rating in a research note on Monday, December 17th.

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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).

Further Reading: Cost of Debt

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

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