Insider Buying: W David Scott Acquires 1,582 Shares of Investors Real Estate Trust Stock (IRET)
Investors Real Estate Trust (NASDAQ:IRET) Director W David Scott bought 1,582 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were purchased at an average price of $7.90 per share, with a total value of $12,497.80. Following the transaction, the director now directly owns 76,206 shares of the company’s stock, valued at approximately $602,027. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Investors Real Estate Trust (NASDAQ:IRET) remained flat at $8.13 during trading on Tuesday. 384,578 shares of the company’s stock traded hands. 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 $8.20 and a 200-day moving average of $8.90. The company has a market cap of $849.2 million and a P/E ratio of 54.20.
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 $0.66 EPS for the current fiscal year.
IRET has been the subject of a number of recent research reports. Analysts at Wunderlich initiated coverage on shares of Investors Real Estate Trust in a research note to investors on Friday. They set a “buy” rating and a $10.00 price target on the stock. Separately, analysts at BMO Capital Markets reiterated a “hold” rating on shares of Investors Real Estate Trust in a research note to investors on Friday, September 13th. They now have a $9.00 price target on the stock. Finally, analysts at RBC Capital cut their price target on shares of Investors Real Estate Trust from $10.00 to $9.00 in a research note to investors on Friday, September 13th. They now have a “sector perform” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $9.33.
Investors Real Estate Trust (NASDAQ:IRET) a self-advised equity real estate investment trust (REIT).
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