Wall Street analysts forecast that Investors Real Estate Trust (NYSE:IRET) will report sales of $50.64 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Investors Real Estate Trust’s earnings, with estimates ranging from $49.20 million to $52.08 million. Investors Real Estate Trust reported sales of $49.61 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.1%. The company is scheduled to report its next earnings report on Thursday, September 14th.

According to Zacks, analysts expect that Investors Real Estate Trust will report full-year sales of $50.64 million for the current year, with estimates ranging from $197.80 million to $209.06 million. For the next year, analysts expect that the company will post sales of $206.64 million per share, with estimates ranging from $199.03 million to $214.25 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts 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 Zacks’ consensus estimate of $0.10 by $0.01. Investors Real Estate Trust had a negative return on equity of 2.51% and a net margin of 21.07%. The business had revenue of $54.34 million during the quarter, compared to analysts’ expectations of $51.36 million. During the same quarter in the previous year, the business earned $0.14 EPS. The company’s revenue for the quarter was up 12.0% on a year-over-year basis.

IRET has been the topic of several research reports. Zacks Investment Research raised Investors Real Estate Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. ValuEngine lowered Investors Real Estate Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Finally, BidaskClub lowered Investors Real Estate Trust from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.51.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Campbell & CO Investment Adviser LLC bought a new position in shares of Investors Real Estate Trust during the second quarter worth approximately $100,000. Neuberger Berman Group LLC raised its position in shares of Investors Real Estate Trust by 29.4% in the first quarter. Neuberger Berman Group LLC now owns 18,553 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 4,213 shares in the last quarter. Creative Planning raised its position in shares of Investors Real Estate Trust by 43.4% in the second quarter. Creative Planning now owns 19,088 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 5,775 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in shares of Investors Real Estate Trust during the second quarter worth approximately $126,000. Finally, Honkamp Krueger Financial Services Inc. bought a new position in shares of Investors Real Estate Trust during the second quarter worth approximately $128,000. 52.80% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Investors Real Estate Trust (IRET) opened at 6.22 on Wednesday. The stock’s 50 day moving average price is $6.19 and its 200-day moving average price is $6.13. Investors Real Estate Trust has a one year low of $5.60 and a one year high of $7.28. The stock has a market cap of $750.27 million, a PE ratio of 24.02 and a beta of 0.80.

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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