Analysts Expect Investors Real Estate Trust (IRET) Will Announce Quarterly Sales of $50.00 Million
Equities research analysts expect that Investors Real Estate Trust (NYSE:IRET) will announce sales of $50.00 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Investors Real Estate Trust’s earnings. The lowest sales estimate is $49.20 million and the highest is $50.79 million. Investors Real Estate Trust posted sales of $49.61 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.8%. The company is scheduled to issue its next earnings report on Thursday, September 14th.
On average, analysts expect that Investors Real Estate Trust will report full-year sales of $50.00 million for the current year, with estimates ranging from $197.80 million to $204.78 million. For the next financial year, analysts expect that the firm will report sales of $199.03 million per share. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Investors Real Estate Trust.
Investors Real Estate Trust (NYSE:IRET) last issued its earnings results on Wednesday, June 28th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $54.34 million during the quarter, compared to analysts’ expectations of $51.36 million. Investors Real Estate Trust had a net margin of 21.07% and a negative return on equity of 2.51%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 earnings per share.
Several analysts have commented on the stock. Zacks Investment Research raised shares of Investors Real Estate Trust from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. ValuEngine lowered shares of Investors Real Estate Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Investors Real Estate Trust has a consensus rating of “Hold” and a consensus target price of $6.51.
Several institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Investors Real Estate Trust during the fourth quarter valued at approximately $9,363,000. IronBridge Capital Management LP bought a new position in shares of Investors Real Estate Trust during the first quarter valued at approximately $4,340,000. Vanguard Group Inc. raised its position in shares of Investors Real Estate Trust by 1.8% in the first quarter. Vanguard Group Inc. now owns 19,554,774 shares of the real estate investment trust’s stock valued at $115,960,000 after buying an additional 340,851 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Investors Real Estate Trust by 30.7% in the first quarter. Wells Fargo & Company MN now owns 1,285,951 shares of the real estate investment trust’s stock valued at $7,625,000 after buying an additional 301,721 shares during the last quarter. Finally, Two Sigma Investments LP bought a new position in shares of Investors Real Estate Trust during the fourth quarter valued at approximately $2,095,000. 52.43% of the stock is owned by hedge funds and other institutional investors.
Shares of Investors Real Estate Trust (IRET) traded down 4.46% on Wednesday, reaching $6.42. 256,088 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $6.04 and a 200-day moving average price of $6.30. The company has a market cap of $774.39 million, a PE ratio of 24.79 and a beta of 0.80. Investors Real Estate Trust has a 12-month low of $5.60 and a 12-month high of $7.28.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Thursday, June 15th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Tuesday, June 13th. Investors Real Estate Trust’s payout ratio is currently 107.70%.
About Investors Real Estate Trust
Investors Real Estate Trust is a self-advised equity real estate investment trust (REIT). The Company’s business consists of owning and operating income-producing real estate properties. Its segments include Multifamily, Healthcare and All Other. Its investments consist of multifamily and healthcare properties located primarily in the upper Midwest states of Minnesota and North Dakota.
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