$45.25 Million in Sales Expected for Investors Real Estate Trust Reit (NYSE:IRET) This Quarter

Equities analysts predict that Investors Real Estate Trust Reit (NYSE:IRET) will announce $45.25 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Investors Real Estate Trust Reit’s earnings, with estimates ranging from $43.95 million to $46.51 million. Investors Real Estate Trust Reit posted sales of $46.93 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.6%. The firm is expected to report its next quarterly earnings report 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 expect that the business will report sales of $185.73 million, with estimates ranging from $179.41 million to $194.77 million. Zacks’ sales calculations are an average based on a survey of analysts that follow 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 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.

A number of equities analysts have commented on the stock. DA Davidson downgraded shares of Investors Real Estate Trust Reit from a “buy” rating to a “neutral” rating in a research note on Monday, March 16th. Robert W. Baird downgraded shares of 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 research note on Tuesday, March 17th. TheStreet downgraded shares of Investors Real Estate Trust Reit from a “c-” rating to a “d” rating in a research note on Friday, May 15th. BMO Capital Markets reissued a “hold” rating and issued a $72.00 price target on shares of Investors Real Estate Trust Reit in a research note on Wednesday, June 24th. Finally, Zacks Investment Research downgraded shares of Investors Real Estate Trust Reit from a “hold” rating to a “sell” rating in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $77.14.

Hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its stake in Investors Real Estate Trust Reit by 61.6% in the 1st quarter. Legal & General Group Plc now owns 88,515 shares of the real estate investment trust’s stock valued at $4,868,000 after acquiring an additional 33,733 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Investors Real Estate Trust Reit by 53.6% during the 1st quarter. Thrivent Financial for Lutherans now owns 44,602 shares of the real estate investment trust’s stock worth $2,453,000 after purchasing an additional 15,555 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Investors Real Estate Trust Reit by 30.5% in 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 during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Investors Real Estate Trust Reit by 99.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 147,572 shares of the real estate investment trust’s stock worth $10,699,000 after acquiring an additional 73,406 shares during the last quarter. Finally, FDx Advisors Inc. acquired a new stake in shares of Investors Real Estate Trust Reit in the first quarter worth approximately $216,000. Hedge funds and other institutional investors own 77.58% of the company’s stock.

IRET stock traded down $2.77 during trading on Monday, reaching $66.08. 152,300 shares of the stock were exchanged, compared to its average volume of 141,096. 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 business has a 50 day moving average price of $68.77 and a 200-day moving average price of $68.65. Investors Real Estate Trust Reit has a 1 year low of $43.58 and a 1 year high of $85.24. The firm has a market capitalization of $823.04 million, a price-to-earnings ratio of 11.56 and a beta of 1.07.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend is Monday, June 29th. Investors Real Estate Trust Reit’s 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).

Further Reading: Gross Domestic Product (GDP)

Get a free copy of the Zacks research report on Investors Real Estate Trust Reit (IRET)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Investors Real Estate Trust Reit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Real Estate Trust Reit and related companies with MarketBeat.com's FREE daily email newsletter.