Investors Real Estate Trust Given New $9.00 Price Target at RBC Capital (IRET)
Stock analysts at RBC Capital lowered their price target on shares of Investors Real Estate Trust (NASDAQ:IRET) from $10.00 to $9.00 in a report issued on Friday, Stock Ratings Network.com reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price target would indicate a potential upside of 11.52% from the company’s current price.
Investors Real Estate Trust (NASDAQ:IRET) traded up 0.50% during mid-day trading on Friday, hitting $8.11. The stock had a trading volume of 330,465 shares. Investors Real Estate Trust has a 52 week low of $7.70 and a 52 week high of $10.02. The stock has a 50-day moving average of $8.41 and a 200-day moving average of $9.08. The company has a market cap of $827.5 million and a price-to-earnings ratio of 46.11.
Investors Real Estate Trust (NASDAQ:IRET) last announced its earnings results on Monday, September 9th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $0.01. The company had revenue of $67.18 million for the quarter, compared to the consensus estimate of $64.15 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts expect that Investors Real Estate Trust will post $0.67 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on IRET. Analysts at Janney Montgomery Scott initiated coverage on shares of Investors Real Estate Trust (NASDAQ:IRET) in a research note to investors on Tuesday. They set a “neutral” rating on the stock. Separately, analysts at Robert W. Baird upgraded shares of Investors Real Estate Trust (NASDAQ:IRET) from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, July 17th. Finally, analysts at BMO Capital Markets reiterated a “market perform” rating on shares of Investors Real Estate Trust (NASDAQ:IRET) in a research note to investors on Monday, July 15th. They now have a $9.00 price target on the stock, down previously from $10.00.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 6.44%. The ex-dividend date of this dividend is Thursday, September 12th.
Investors Real Estate Trust (NASDAQ:IRET) a self-advised equity real estate investment trust (REIT).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.