Investors Real Estate Trust Reit (NYSE:IRET) Expected to Announce Quarterly Sales of $45.25 Million

Brokerages expect Investors Real Estate Trust Reit (NYSE:IRET) to announce $45.25 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Investors Real Estate Trust Reit’s earnings. The lowest sales estimate is $43.95 million and the highest is $46.51 million. Investors Real Estate Trust Reit reported sales of $46.93 million in the same quarter last year, which indicates a negative year-over-year growth rate of 3.6%. The business is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Investors Real Estate Trust Reit will report full-year sales of $181.64 million for the current financial year, with estimates ranging from $176.28 million to $187.23 million. For the next year, analysts forecast that the company will post sales of $185.73 million, with estimates ranging from $179.41 million to $194.77 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Investors Real Estate Trust Reit.

Investors Real Estate Trust Reit (NYSE:IRET) last issued its earnings results on Monday, May 11th. The real estate investment trust reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($1.49). Investors Real Estate Trust Reit had a net margin of 43.62% and a return on equity of 15.10%. The firm had revenue of $44.41 million during the quarter, compared to analyst estimates of $44.80 million.

Several analysts have recently commented on IRET shares. BMO Capital Markets restated a “hold” rating and set a $72.00 target price on shares of Investors Real Estate Trust Reit in a report on Wednesday, June 24th. TheStreet cut Investors Real Estate Trust Reit from a “c-” rating to a “d” rating in a report on Friday, May 15th. Robert W. Baird cut Investors Real Estate Trust Reit from an “outperform” rating to a “neutral” rating and set a $64.00 price target on the stock. in a report on Tuesday, March 17th. Zacks Investment Research cut Investors Real Estate Trust Reit from a “hold” rating to a “sell” rating in a report on Wednesday, June 10th. Finally, BTIG Research raised their price target on 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Investors Real Estate Trust Reit currently has a consensus rating of “Hold” and a consensus price target of $77.14.

Shares of IRET stock traded down $2.77 during trading hours on Monday, hitting $66.08. 152,300 shares of the company’s stock were exchanged, compared to its average volume of 141,096. The stock’s 50-day moving average is $68.77 and its 200-day moving average is $68.65. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market cap of $823.04 million, a price-to-earnings ratio of 11.56 and a beta of 1.07. Investors Real Estate Trust Reit has a 52 week low of $43.58 and a 52 week high of $85.24.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend is Monday, June 29th. Investors Real Estate Trust Reit’s dividend payout ratio is presently 75.27%.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in Investors Real Estate Trust Reit by 78.4% during the 1st quarter. BlackRock Inc. now owns 2,014,758 shares of the real estate investment trust’s stock worth $110,811,000 after purchasing an additional 885,306 shares during the last quarter. Norges Bank acquired a new position in Investors Real Estate Trust Reit in the 4th quarter valued at $12,483,000. State Street Corp raised its holdings in Investors Real Estate Trust Reit by 35.2% in the 1st quarter. State Street Corp now owns 499,487 shares of the real estate investment trust’s stock valued at $27,800,000 after acquiring an additional 129,924 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Investors Real Estate Trust Reit by 18.8% in the 4th quarter. Renaissance Technologies LLC now owns 806,516 shares of the real estate investment trust’s stock valued at $58,472,000 after acquiring an additional 127,820 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in Investors Real Estate Trust Reit in the 1st quarter valued at $4,849,000. Hedge funds and other institutional investors own 77.58% of the company’s stock.

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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