Peregrine Capital Management LLC Has $4.25 Million Stake in Investors Real Estate Trust Reit (NYSE:IRET)

Peregrine Capital Management LLC increased its holdings in shares of Investors Real Estate Trust Reit (NYSE:IRET) by 1.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 60,254 shares of the real estate investment trust’s stock after acquiring an additional 872 shares during the period. Peregrine Capital Management LLC’s holdings in Investors Real Estate Trust Reit were worth $4,247,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in IRET. BlackRock Inc. raised its position in Investors Real Estate Trust Reit by 78.4% during the first quarter. BlackRock Inc. now owns 2,014,758 shares of the real estate investment trust’s stock worth $110,811,000 after acquiring an additional 885,306 shares in the last quarter. State Street Corp raised its position in Investors Real Estate Trust Reit by 35.2% during the first quarter. State Street Corp now owns 499,487 shares of the real estate investment trust’s stock worth $27,800,000 after acquiring an additional 129,924 shares in the last quarter. Nuveen Asset Management LLC raised its position in Investors Real Estate Trust Reit by 30.5% during the first quarter. Nuveen Asset Management LLC now owns 188,032 shares of the real estate investment trust’s stock worth $10,342,000 after acquiring an additional 43,996 shares in the last quarter. Norges Bank bought a new stake in Investors Real Estate Trust Reit during the fourth quarter worth $12,483,000. Finally, Geode Capital Management LLC raised its position in Investors Real Estate Trust Reit by 6.1% during the first quarter. Geode Capital Management LLC now owns 167,380 shares of the real estate investment trust’s stock worth $9,205,000 after acquiring an additional 9,682 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

IRET has been the topic of several analyst reports. BMO Capital Markets reaffirmed a “hold” rating and set a $72.00 price target on shares of Investors Real Estate Trust Reit in a research report on Wednesday, June 24th. BTIG Research upped their price target on shares of Investors Real Estate Trust Reit from $72.50 to $79.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. 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. TheStreet lowered shares of Investors Real Estate Trust Reit from a “c-” rating to a “d” rating in a research report on Friday, May 15th. Finally, Piper Sandler started coverage on shares of Investors Real Estate Trust Reit in a research report on Friday, July 10th. They issued an “overweight” rating and a $80.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Investors Real Estate Trust Reit has an average rating of “Hold” and a consensus price target of $77.50.

NYSE:IRET opened at $72.30 on Friday. Investors Real Estate Trust Reit has a 52 week low of $43.58 and a 52 week high of $85.24. The firm has a market cap of $878.45 million, a price-to-earnings ratio of 12.32 and a beta of 1.07. The firm’s 50-day simple moving average is $71.29 and its 200 day simple moving average is $68.35. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.09 and a current ratio of 0.09.

Investors Real Estate Trust Reit (NYSE:IRET) last released its quarterly 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 return on equity of 15.10% and a net margin of 43.62%. The business had revenue of $44.41 million for the quarter, compared to the consensus estimate of $44.80 million. Sell-side analysts anticipate that Investors Real Estate Trust Reit will post 3.49 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Monday, June 29th. Investors Real Estate Trust Reit’s dividend payout ratio 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).

See Also: Cash Asset Ratio

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

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