Michael T. Dance Buys 10,000 Shares of Investors Real Estate Trust (IRET) Stock

Investors Real Estate Trust (NYSE:IRET) Director Michael T. Dance bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was purchased at an average cost of $5.50 per share, with a total value of $55,000.00. Following the purchase, the director now directly owns 24,671 shares in the company, valued at approximately $135,690.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of Investors Real Estate Trust (NYSE:IRET) traded up $0.01 during mid-day trading on Friday, reaching $5.53. 426,106 shares of the company traded hands, compared to its average volume of 693,200. Investors Real Estate Trust has a 12-month low of $5.49 and a 12-month high of $7.17. The firm has a market cap of $669.81, a P/E ratio of 16.76, a price-to-earnings-growth ratio of 2.61 and a beta of 0.82. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.39.

Investors Real Estate Trust (NYSE:IRET) last announced its earnings results on Monday, December 11th. The real estate investment trust reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Investors Real Estate Trust had a net margin of 25.90% and a negative return on equity of 1.91%. The firm had revenue of $53.92 million during the quarter, compared to the consensus estimate of $53.69 million. During the same quarter in the previous year, the company posted $0.12 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. sell-side analysts predict that Investors Real Estate Trust will post 0.36 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 5.06%. The ex-dividend date is Friday, December 29th. Investors Real Estate Trust’s payout ratio is 84.85%.

Several hedge funds and other institutional investors have recently bought and sold shares of IRET. Schwab Charles Investment Management Inc. increased its stake in shares of Investors Real Estate Trust by 9.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 894,551 shares of the real estate investment trust’s stock valued at $5,556,000 after acquiring an additional 77,350 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Investors Real Estate Trust by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,125,415 shares of the real estate investment trust’s stock valued at $6,989,000 after acquiring an additional 8,512 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Investors Real Estate Trust by 12.3% during the 2nd quarter. Legal & General Group Plc now owns 337,737 shares of the real estate investment trust’s stock valued at $2,097,000 after acquiring an additional 37,026 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Investors Real Estate Trust by 21.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 64,234 shares of the real estate investment trust’s stock valued at $399,000 after acquiring an additional 11,328 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of Investors Real Estate Trust by 17.3% during the 2nd quarter. Neuberger Berman Group LLC now owns 21,754 shares of the real estate investment trust’s stock valued at $135,000 after acquiring an additional 3,201 shares during the last quarter. 53.63% of the stock is owned by institutional investors.

IRET has been the subject of several analyst reports. Zacks Investment Research raised shares of Investors Real Estate Trust from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a research note on Wednesday, November 15th. BidaskClub raised shares of Investors Real Estate Trust from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. ValuEngine downgraded shares of Investors Real Estate Trust from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. Finally, Robert W. Baird reissued a “hold” rating and issued a $7.00 target price on shares of Investors Real Estate Trust in a research note on Sunday, November 19th.

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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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