Equities research analysts forecast that Investors Real Estate Trust Reit (NYSE:IRET) will report sales of $46.01 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Investors Real Estate Trust Reit’s earnings, with estimates ranging from $45.93 million to $46.09 million. The company is expected to issue its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Investors Real Estate Trust Reit will report full year sales of $185.13 million for the current fiscal year, with estimates ranging from $184.92 million to $185.34 million. For the next fiscal year, analysts expect that the firm will post sales of $192.27 million, with estimates ranging from $191.31 million to $193.23 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Investors Real Estate Trust Reit.
Investors Real Estate Trust Reit (NYSE:IRET) last released its earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.54) earnings per share for the quarter, missing the consensus estimate of $0.86 by ($1.40). The firm had revenue of $45.61 million during the quarter, compared to analysts’ expectations of $45.08 million. Investors Real Estate Trust Reit had a negative return on equity of 2.23% and a negative net margin of 5.96%.
IRET has been the topic of a number of research analyst reports. BMO Capital Markets reaffirmed a “hold” rating and set a $9.50 price objective on shares of Vicon Industries in a research report on Friday, June 14th. Zacks Investment Research upgraded shares of Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Tuesday, July 16th. Finally, ValuEngine upgraded shares of Zumiez from a “sell” rating to a “hold” rating in a research note on Saturday, June 22nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $64.13.
Institutional investors have recently modified their holdings of the company. Nordea Investment Management AB acquired a new position in Investors Real Estate Trust Reit during the fourth quarter worth about $900,000. Norges Bank acquired a new stake in Investors Real Estate Trust Reit during the fourth quarter worth approximately $8,449,000. Nisa Investment Advisors LLC acquired a new stake in Investors Real Estate Trust Reit during the first quarter worth approximately $34,000. Virginia Retirement Systems ET AL boosted its position in Investors Real Estate Trust Reit by 127.2% during the first quarter. Virginia Retirement Systems ET AL now owns 21,610 shares of the real estate investment trust’s stock worth $1,295,000 after acquiring an additional 12,100 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Investors Real Estate Trust Reit during the first quarter worth approximately $281,000. Institutional investors and hedge funds own 61.67% of the company’s stock.
Shares of Investors Real Estate Trust Reit stock traded down $0.79 during trading on Tuesday, hitting $59.70. The stock had a trading volume of 26,788 shares, compared to its average volume of 38,472. The stock’s 50 day simple moving average is $59.71. The stock has a market cap of $701.71 million, a P/E ratio of 17.56, a PEG ratio of 2.78 and a beta of 0.89. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.50. Investors Real Estate Trust Reit has a 1 year low of $46.30 and a 1 year high of $62.24.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend was Friday, June 14th.
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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