Investors Real Estate Trust (NYSE:IRET) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01), Briefing.com reports. Investors Real Estate Trust had a net margin of 25.90% and a negative return on equity of 1.91%. The business had revenue of $43.25 million for the quarter, compared to analysts’ expectations of $53.72 million. During the same quarter in the prior year, the firm posted $0.12 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year.
Shares of Investors Real Estate Trust (NYSE IRET) traded up $0.07 during mid-day trading on Monday, hitting $4.80. The stock had a trading volume of 613,226 shares, compared to its average volume of 514,845. Investors Real Estate Trust has a twelve month low of $4.61 and a twelve month high of $6.75. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $651.14, a P/E ratio of -28.24, a price-to-earnings-growth ratio of 2.19 and a beta of 0.89.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.07 per share. The ex-dividend date is Wednesday, March 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.83%. Investors Real Estate Trust’s dividend payout ratio is -164.71%.
A number of research analysts have recently weighed in on IRET shares. Zacks Investment Research upgraded Investors Real Estate Trust from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a report on Wednesday, November 15th. Robert W. Baird reiterated a “hold” rating and set a $7.00 price target on shares of Investors Real Estate Trust in a report on Sunday, November 19th. Finally, ValuEngine downgraded Investors Real Estate Trust from a “buy” rating to a “hold” rating in a report on Friday, February 2nd.
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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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