Brokerages Anticipate Investors Real Estate Trust Reit (IRET) Will Announce Quarterly Sales of $45.26 Million

Wall Street analysts forecast that Investors Real Estate Trust Reit (NYSE:IRET) will report sales of $45.26 million for the current quarter, Zacks reports. Three analysts have made estimates for Investors Real Estate Trust Reit’s earnings, with estimates ranging from $44.46 million to $46.43 million. Investors Real Estate Trust Reit posted sales of $53.92 million during the same quarter last year, which would indicate a negative year over year growth rate of 16.1%. The company is scheduled to issue its next earnings report on Monday, December 10th.

According to Zacks, analysts expect that Investors Real Estate Trust Reit will report full-year sales of $182.88 million for the current year, with estimates ranging from $180.10 million to $186.71 million. For the next fiscal year, analysts forecast that the firm will report sales of $190.18 million, with estimates ranging from $186.85 million to $194.64 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Investors Real Estate Trust Reit.

Investors Real Estate Trust Reit (NYSE:IRET) last issued its earnings results on Monday, September 10th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.07). Investors Real Estate Trust Reit had a negative return on equity of 4.92% and a net margin of 69.92%. The business had revenue of $45.95 million for the quarter, compared to the consensus estimate of $44.94 million.

Several analysts have commented on IRET shares. Robert W. Baird raised shares of Investors Real Estate Trust Reit from a “neutral” rating to an “outperform” rating in a research report on Tuesday, September 25th. Zacks Investment Research raised shares of Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Finally, Boenning Scattergood started coverage on shares of Investors Real Estate Trust Reit in a research report on Monday, September 17th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $6.00.

Investors Real Estate Trust Reit stock traded up $0.04 during midday trading on Friday, hitting $5.38. 13,517 shares of the company’s stock were exchanged, compared to its average volume of 469,026. 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 12 month low of $4.61 and a 12 month high of $6.34. The stock has a market cap of $714.65 million, a price-to-earnings ratio of 14.12, a PEG ratio of 2.85 and a beta of 0.72.

The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Monday, September 17th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 5.20%. The ex-dividend date was Friday, September 14th. Investors Real Estate Trust Reit’s payout ratio is 73.68%.

Institutional investors have recently made changes to their positions in the stock. Boston Partners purchased a new position in shares of Investors Real Estate Trust Reit in the 2nd quarter valued at approximately $2,133,000. Great West Life Assurance Co. Can raised its position in shares of Investors Real Estate Trust Reit by 225.7% in the 2nd quarter. Great West Life Assurance Co. Can now owns 53,714 shares of the real estate investment trust’s stock valued at $297,000 after purchasing an additional 37,220 shares during the last quarter. Martingale Asset Management L P raised its position in shares of Investors Real Estate Trust Reit by 405.2% in the 2nd quarter. Martingale Asset Management L P now owns 444,200 shares of the real estate investment trust’s stock valued at $2,457,000 after purchasing an additional 356,266 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Investors Real Estate Trust Reit by 15.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,126,945 shares of the real estate investment trust’s stock valued at $17,292,000 after purchasing an additional 407,400 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Investors Real Estate Trust Reit by 15.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,148,244 shares of the real estate investment trust’s stock valued at $6,350,000 after purchasing an additional 154,519 shares during the last quarter. 57.08% 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 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).

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