Analysts expect Investors Real Estate Trust (NYSE:IRET) to report sales of $54.08 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Investors Real Estate Trust’s earnings. The highest sales estimate is $54.60 million and the lowest is $53.56 million. Investors Real Estate Trust posted sales of $51.17 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.7%. The business is expected to issue its next quarterly earnings report on Monday, March 12th.
According to Zacks, analysts expect that Investors Real Estate Trust will report full-year sales of $54.08 million for the current fiscal year, with estimates ranging from $202.63 million to $214.11 million. For the next year, analysts anticipate that the firm will post sales of $193.60 million per share, with estimates ranging from $165.71 million to $221.49 million. Zacks Investment Research’s 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 announced its earnings results on Monday, December 11th. The real estate investment trust reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Investors Real Estate Trust had a negative return on equity of 1.91% and a net margin of 25.90%. The business had revenue of $53.92 million for the quarter, compared to the consensus estimate of $53.69 million. During the same period last year, the business posted $0.12 EPS. The company’s revenue was up 6.6% on a year-over-year basis.
Shares of Investors Real Estate Trust (IRET) opened at $5.69 on Wednesday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.39. Investors Real Estate Trust has a twelve month low of $5.49 and a twelve month high of $7.17. The stock has a market capitalization of $784.08, a P/E ratio of -33.47, a price-to-earnings-growth ratio of 2.58 and a beta of 0.82.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be issued a $0.07 dividend. The ex-dividend date is Friday, December 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.92%. Investors Real Estate Trust’s dividend payout ratio (DPR) is -164.71%.
In related news, Director Jeffrey Caira acquired 45,000 shares of Investors Real Estate Trust stock in a transaction that occurred on Thursday, December 14th. The stock was acquired at an average price of $5.79 per share, for a total transaction of $260,550.00. Following the transaction, the director now directly owns 102,807 shares of the company’s stock, valued at approximately $595,252.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Mark Okey Decker, Jr. acquired 25,000 shares of Investors Real Estate Trust stock in a transaction that occurred on Wednesday, January 3rd. The shares were bought at an average price of $5.58 per share, with a total value of $139,500.00. Following the transaction, the chief executive officer now directly owns 140,985 shares in the company, valued at $786,696.30. The disclosure for this purchase can be found here. Insiders bought a total of 82,000 shares of company stock valued at $466,450 over the last quarter. Company insiders own 1.04% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. BlueCrest Capital Management Ltd acquired a new stake in shares of Investors Real Estate Trust in the second quarter valued at $126,000. Neuberger Berman Group LLC lifted its holdings in shares of Investors Real Estate Trust by 17.3% in the second quarter. Neuberger Berman Group LLC now owns 21,754 shares of the real estate investment trust’s stock valued at $135,000 after buying an additional 3,201 shares during the period. Aperio Group LLC lifted its holdings in shares of Investors Real Estate Trust by 86.4% in the third quarter. Aperio Group LLC now owns 28,150 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 13,052 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Investors Real Estate Trust by 68.8% in the third quarter. SG Americas Securities LLC now owns 30,118 shares of the real estate investment trust’s stock valued at $184,000 after buying an additional 12,280 shares during the period. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in shares of Investors Real Estate Trust by 47.0% in the second quarter. Dynamic Technology Lab Private Ltd now owns 34,733 shares of the real estate investment trust’s stock valued at $215,000 after buying an additional 11,107 shares during the period. Institutional investors own 53.63% of the company’s stock.
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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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