Investors Real Estate Trust Reit (NYSE:IRET) Holdings Reduced by State Board of Administration of Florida Retirement System

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State Board of Administration of Florida Retirement System reduced its stake in Investors Real Estate Trust Reit (NYSE:IRET) by 90.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,134 shares of the real estate investment trust’s stock after selling 82,209 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.08% of Investors Real Estate Trust Reit worth $448,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IRET. Quantamental Technologies LLC bought a new position in shares of Investors Real Estate Trust Reit during the fourth quarter worth about $36,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Investors Real Estate Trust Reit by 67.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,346 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 9,371 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Investors Real Estate Trust Reit by 80.8% during the third quarter. Jane Street Group LLC now owns 20,970 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 9,373 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Investors Real Estate Trust Reit by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,967,844 shares of the real estate investment trust’s stock valued at $11,767,000 after buying an additional 12,224 shares during the last quarter. Finally, Macquarie Group Ltd. raised its holdings in shares of Investors Real Estate Trust Reit by 35.4% during the third quarter. Macquarie Group Ltd. now owns 53,600 shares of the real estate investment trust’s stock valued at $321,000 after buying an additional 14,000 shares during the last quarter. Hedge funds and other institutional investors own 60.62% of the company’s stock.

In other news, CEO Mark Okey Decker, Jr. bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 19th. The shares were purchased at an average price of $5.20 per share, for a total transaction of $26,000.00. Following the acquisition, the chief executive officer now directly owns 183,435 shares of the company’s stock, valued at approximately $953,862. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael T. Dance bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 31st. The stock was purchased at an average price of $47.32 per share, for a total transaction of $47,320.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 15,973 shares of company stock valued at $181,607 in the last three months. Company insiders own 0.85% of the company’s stock.

Investors Real Estate Trust Reit stock opened at $58.10 on Friday. Investors Real Estate Trust Reit has a 52 week low of $46.30 and a 52 week high of $62.24. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $703.12 million, a P/E ratio of 15.29, a PEG ratio of 2.69 and a beta of 0.97.

Investors Real Estate Trust Reit (NYSE:IRET) last posted its quarterly earnings data on Monday, December 10th. The real estate investment trust reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.05. The firm had revenue of $45.64 million during the quarter, compared to analyst estimates of $45.26 million. Investors Real Estate Trust Reit had a net margin of 63.45% and a negative return on equity of 5.78%. Equities analysts forecast that Investors Real Estate Trust Reit will post 3.63 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, March 14th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.82%. This is a positive change from Investors Real Estate Trust Reit’s previous quarterly dividend of $0.07. Investors Real Estate Trust Reit’s dividend payout ratio (DPR) is 73.68%.

A number of research analysts recently commented on IRET shares. ValuEngine upgraded shares of Investors Real Estate Trust Reit from a “hold” rating to a “buy” rating in a research note on Monday, December 17th. Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit from a “hold” rating to a “buy” rating and set a $57.50 price objective on the stock in a research note on Thursday, December 13th. Finally, Boenning Scattergood restated a “hold” rating on shares of Investors Real Estate Trust Reit in a research report on Tuesday, December 11th.

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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: Treasury Bonds

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

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