Investors Real Estate Trust CEO Timothy Mihalick Buys 1,265 Shares (IRET)
Investors Real Estate Trust (NASDAQ:IRET) CEO Timothy Mihalick purchased 1,265 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was purchased at an average cost of $7.90 per share, with a total value of $9,993.50. Following the transaction, the chief executive officer now directly owns 101,298 shares of the company’s stock, valued at approximately $800,254. 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. The stock had a trading volume of 384,578 shares. Investors Real Estate Trust has a 52 week low of $7.70 and a 52 week high of $10.02. The stock’s 50-day moving average is $8.20 and its 200-day moving average is $8.90. The company has a market cap of $849.2 million and a price-to-earnings ratio of 54.20.
Investors Real Estate Trust (NASDAQ:IRET) last issued its quarterly earnings data 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. On average, analysts predict that Investors Real Estate Trust will post $0.66 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Investors Real Estate Trust presently has a consensus rating of “Hold” and a consensus target price of $9.33.
Investors Real Estate Trust (NASDAQ:IRET) a self-advised equity real estate investment trust (REIT).
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