Investors Real Estate Trust Reit (NYSE:IRET) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

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

Several other equities research analysts also recently weighed in on the stock. Compass Point downgraded shares of Investors Real Estate Trust Reit from a “buy” rating to a “neutral” rating and set a $80.00 price target for the company. in a research note on Thursday. National Securities assumed coverage on shares of Investors Real Estate Trust Reit in a research note on Wednesday, December 18th. They issued a “buy” rating and a $81.00 price target for the company. Finally, ValuEngine raised shares of Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a research note on Saturday, January 4th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Investors Real Estate Trust Reit currently has a consensus rating of “Buy” and an average target price of $80.00.

IRET traded up $0.68 during midday trading on Friday, hitting $77.26. The company had a trading volume of 218,233 shares, compared to its average volume of 161,467. Investors Real Estate Trust Reit has a 52 week low of $55.99 and a 52 week high of $85.24. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $890.63 million, a price-to-earnings ratio of 12.88 and a beta of 0.84. The stock’s 50 day moving average price is $75.48 and its 200 day moving average price is $73.55.

Investors Real Estate Trust Reit (NYSE:IRET) last posted its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $3.89 earnings per share for the quarter, beating the consensus estimate of $0.99 by $2.90. Investors Real Estate Trust Reit had a net margin of 44.58% and a return on equity of 16.24%. The firm had revenue of $45.78 million during the quarter, compared to the consensus estimate of $46.86 million. Research analysts predict that Investors Real Estate Trust Reit will post 3.99 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of IRET. Renaissance Technologies LLC increased its position in shares of Investors Real Estate Trust Reit by 18.8% during the fourth quarter. Renaissance Technologies LLC now owns 806,516 shares of the real estate investment trust’s stock worth $58,472,000 after acquiring an additional 127,820 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Investors Real Estate Trust Reit by 99.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 147,572 shares of the real estate investment trust’s stock worth $10,699,000 after acquiring an additional 73,406 shares in the last quarter. Millennium Management LLC increased its position in shares of Investors Real Estate Trust Reit by 89.2% during the third quarter. Millennium Management LLC now owns 123,037 shares of the real estate investment trust’s stock worth $9,187,000 after acquiring an additional 58,004 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Investors Real Estate Trust Reit by 18.2% during the third quarter. Russell Investments Group Ltd. now owns 314,592 shares of the real estate investment trust’s stock worth $23,487,000 after acquiring an additional 48,442 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Investors Real Estate Trust Reit during the fourth quarter worth about $2,943,000. 63.64% of the stock is owned by hedge funds and other institutional investors.

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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