Zacks Investment Research Downgrades Investors Real Estate Trust Reit (NYSE:IRET) to Hold

Investors Real Estate Trust Reit (NYSE:IRET) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

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

Several other analysts have also recently weighed in on the stock. BMO Capital Markets raised their target price on shares of Investors Real Estate Trust Reit from $74.00 to $76.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. BTIG Research assumed coverage on shares of Investors Real Estate Trust Reit in a report on Monday, September 16th. They issued a “buy” rating and a $79.00 target price on the stock. DA Davidson reaffirmed a “buy” rating on shares of Investors Real Estate Trust Reit in a report on Monday, July 29th. Compass Point assumed coverage on shares of Investors Real Estate Trust Reit in a report on Monday, July 22nd. They issued a “buy” rating and a $67.50 target price on the stock. Finally, ValuEngine cut shares of Investors Real Estate Trust Reit from a “hold” rating to a “sell” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $76.50.

Shares of NYSE:IRET opened at $78.01 on Thursday. The firm’s 50 day moving average price is $72.77 and its 200 day moving average price is $64.21. The stock has a market cap of $865.22 million, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 3.37 and a beta of 0.84. Investors Real Estate Trust Reit has a fifty-two week low of $46.30 and a fifty-two week high of $78.21. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.40.

A number of large investors have recently modified their holdings of IRET. Daiwa Securities Group Inc. raised its holdings in Investors Real Estate Trust Reit by 23.4% during the second quarter. Daiwa Securities Group Inc. now owns 2,110 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 400 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Investors Real Estate Trust Reit by 78.8% during the second quarter. Nisa Investment Advisors LLC now owns 1,001 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 441 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Investors Real Estate Trust Reit by 16.4% during the second quarter. State of Alaska Department of Revenue now owns 4,580 shares of the real estate investment trust’s stock worth $267,000 after purchasing an additional 644 shares in the last quarter. Nordea Investment Management AB raised its holdings in Investors Real Estate Trust Reit by 3.6% during the first quarter. Nordea Investment Management AB now owns 19,001 shares of the real estate investment trust’s stock worth $1,138,000 after purchasing an additional 661 shares in the last quarter. Finally, Summit Global Investments raised its holdings in Investors Real Estate Trust Reit by 6.3% during the second quarter. Summit Global Investments now owns 11,800 shares of the real estate investment trust’s stock worth $692,000 after purchasing an additional 700 shares in the last quarter. 62.38% of the stock is currently 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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