Strs Ohio Grows Position in Investors Real Estate Trust Reit (NYSE:IRET)

Strs Ohio raised its position in Investors Real Estate Trust Reit (NYSE:IRET) by 3.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 19,125 shares of the real estate investment trust’s stock after purchasing an additional 681 shares during the period. Strs Ohio’s holdings in Investors Real Estate Trust Reit were worth $1,348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of IRET. PNC Financial Services Group Inc. boosted its stake in shares of Investors Real Estate Trust Reit by 8,350.0% during the first quarter. PNC Financial Services Group Inc. now owns 507 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 501 shares during the period. Capital Analysts LLC purchased a new stake in Investors Real Estate Trust Reit during the 1st quarter valued at approximately $28,000. Mutual of America Capital Management LLC acquired a new stake in Investors Real Estate Trust Reit during the 1st quarter worth approximately $28,000. US Bancorp DE grew its stake in shares of Investors Real Estate Trust Reit by 519.6% in the 1st quarter. US Bancorp DE now owns 2,249 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 1,886 shares during the last quarter. Finally, Aigen Investment Management LP increased its holdings in shares of Investors Real Estate Trust Reit by 272.0% in the first quarter. Aigen Investment Management LP now owns 2,537 shares of the real estate investment trust’s stock valued at $140,000 after purchasing an additional 1,855 shares during the period. 77.53% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Investors Real Estate Trust Reit from a “hold” rating to a “sell” rating in a research report on Wednesday, June 10th. BTIG Research lifted their target price on shares of Investors Real Estate Trust Reit from $72.50 to $79.00 and gave the company a “buy” rating in a report on Monday, June 22nd. BMO Capital Markets reissued a “hold” rating and set a $72.00 price target on shares of Investors Real Estate Trust Reit in a report on Wednesday, June 24th. Piper Sandler assumed coverage on Investors Real Estate Trust Reit in a report on Friday, July 10th. They issued an “overweight” rating and a $80.00 price objective on the stock. Finally, TheStreet downgraded Investors Real Estate Trust Reit from a “c-” rating to a “d” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Investors Real Estate Trust Reit currently has an average rating of “Hold” and a consensus target price of $77.50.

Shares of IRET opened at $72.30 on Friday. Investors Real Estate Trust Reit has a twelve month low of $43.58 and a twelve month high of $85.24. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $877.83 million, a P/E ratio of 12.32 and a beta of 1.07. The firm’s 50-day moving average is $71.29 and its two-hundred day moving average is $68.35.

Investors Real Estate Trust Reit (NYSE:IRET) last announced its quarterly earnings results on Monday, May 11th. The real estate investment trust reported ($0.67) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($1.49). Investors Real Estate Trust Reit had a return on equity of 15.10% and a net margin of 43.62%. The firm had revenue of $44.41 million for the quarter, compared to analysts’ expectations of $44.80 million. Analysts predict that Investors Real Estate Trust Reit will post 3.49 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.87%. The ex-dividend date was Monday, June 29th. Investors Real Estate Trust Reit’s dividend payout ratio (DPR) is 75.27%.

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

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