Investors Real Estate Trust Reit (IRET) Expected to Announce Quarterly Sales of $45.60 Million

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Wall Street analysts expect Investors Real Estate Trust Reit (NYSE:IRET) to announce $45.60 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Investors Real Estate Trust Reit’s earnings, with estimates ranging from $44.72 million to $46.12 million. Investors Real Estate Trust Reit posted sales of $43.25 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.4%. The firm is expected to report its next quarterly earnings report on Monday, March 11th.

On average, analysts expect that Investors Real Estate Trust Reit will report full year sales of $182.93 million for the current fiscal year, with estimates ranging from $180.67 million to $184.31 million. For the next year, analysts expect that the firm will post sales of $189.32 million, with estimates ranging from $187.80 million to $191.36 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Investors Real Estate Trust Reit.

Investors Real Estate Trust Reit (NYSE:IRET) last issued its quarterly earnings data on Monday, December 10th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.55) by $0.05. Investors Real Estate Trust Reit had a net margin of 63.45% and a negative return on equity of 5.78%. The company had revenue of $45.64 million during the quarter, compared to the consensus estimate of $45.26 million.

IRET has been the subject of several research analyst reports. Boenning Scattergood reiterated a “hold” rating on shares of Investors Real Estate Trust Reit in a research note on Tuesday, December 11th. Zacks Investment Research cut Investors Real Estate Trust Reit from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, ValuEngine upgraded Investors Real Estate Trust Reit from a “hold” rating to a “buy” rating in a research note on Monday, December 17th.

In other Investors Real Estate Trust Reit news, Director Mary J. Twinem bought 1,025 shares of Investors Real Estate Trust Reit stock in a transaction dated Monday, December 31st. The stock was bought at an average cost of $48.43 per share, for a total transaction of $49,640.75. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO John Kirchmann bought 19,995 shares of Investors Real Estate Trust Reit stock in a transaction dated Friday, December 14th. The shares were acquired at an average price of $5.22 per share, with a total value of $104,373.90. Following the completion of the purchase, the chief financial officer now owns 62,391 shares in the company, valued at approximately $325,681.02. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 35,713 shares of company stock valued at $271,109. Company insiders own 0.85% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC lifted its stake in Investors Real Estate Trust Reit by 24.2% during the third quarter. Citadel Advisors LLC now owns 120,431 shares of the real estate investment trust’s stock worth $720,000 after purchasing an additional 23,466 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Investors Real Estate Trust Reit by 97.8% during the third quarter. JPMorgan Chase & Co. now owns 304,557 shares of the real estate investment trust’s stock worth $1,821,000 after purchasing an additional 150,586 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Investors Real Estate Trust Reit by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,955,620 shares of the real estate investment trust’s stock worth $10,815,000 after purchasing an additional 18,101 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Investors Real Estate Trust Reit by 158.7% during the third quarter. Russell Investments Group Ltd. now owns 1,589,581 shares of the real estate investment trust’s stock worth $9,506,000 after purchasing an additional 975,173 shares during the last quarter. Finally, MetLife Investment Advisors LLC lifted its stake in Investors Real Estate Trust Reit by 52.4% during the third quarter. MetLife Investment Advisors LLC now owns 87,204 shares of the real estate investment trust’s stock worth $521,000 after purchasing an additional 29,994 shares during the last quarter.

NYSE:IRET traded down $0.07 during trading hours on Wednesday, hitting $59.60. The stock had a trading volume of 48,500 shares, compared to its average volume of 85,218. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.17. Investors Real Estate Trust Reit has a 1-year low of $46.10 and a 1-year high of $60.00. The company has a market capitalization of $714.31 million, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 2.80 and a beta of 0.95.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, December 31st. Investors Real Estate Trust Reit’s dividend payout ratio (DPR) is currently 73.68%.

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 October 31, 2018, we 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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