Investors Real Estate Trust (NYSE:CSR) Hits New 1-Year High at $76.18

Investors Real Estate Trust (NYSE:CSR)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $76.18 and last traded at $75.43, with a volume of 65679 shares traded. The stock had previously closed at $75.53.

Several analysts recently issued reports on the company. Zacks Investment Research upgraded Investors Real Estate Trust from a “sell” rating to a “hold” rating in a report on Wednesday, April 21st. Janney Montgomery Scott upgraded Investors Real Estate Trust from a “neutral” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Tuesday, May 18th. BTIG Research upgraded Investors Real Estate Trust from a “neutral” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Thursday, June 3rd. Finally, Robert W. Baird reiterated a “hold” rating and set a $74.00 price objective on shares of Investors Real Estate Trust in a report on Sunday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $78.75.

The company has a debt-to-equity ratio of 0.82, a current ratio of 0.03 and a quick ratio of 0.03. The firm has a market capitalization of $997.18 million, a PE ratio of 2,518.51 and a beta of 0.87. The stock has a 50-day simple moving average of $70.33.

Investors Real Estate Trust (NYSE:CSR) last posted its earnings results on Sunday, May 2nd. The company reported ($0.49) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($1.37). Investors Real Estate Trust had a return on equity of 1.13% and a net margin of 3.65%. As a group, analysts anticipate that Investors Real Estate Trust will post 3.64 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 12th. Shareholders of record on Wednesday, June 30th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, June 29th. Investors Real Estate Trust’s payout ratio is 74.07%.

Large investors have recently modified their holdings of the company. Comerica Bank acquired a new stake in shares of Investors Real Estate Trust in the fourth quarter valued at about $990,000. SG Americas Securities LLC acquired a new stake in shares of Investors Real Estate Trust in the fourth quarter valued at about $834,000. Aperio Group LLC acquired a new stake in shares of Investors Real Estate Trust in the fourth quarter valued at about $475,000. Finally, Ensign Peak Advisors Inc grew its position in shares of Investors Real Estate Trust by 30.0% in the first quarter. Ensign Peak Advisors Inc now owns 3,900 shares of the company’s stock valued at $265,000 after purchasing an additional 900 shares during the last quarter. 73.88% of the stock is currently owned by institutional investors.

Investors Real Estate Trust Company Profile (NYSE:CSR)

IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities. As of September 30, 2020, we owned interests in 67 apartment communities consisting of 11,910 apartment homes. IRET's common shares and Series C preferred shares are publicly traded on the New York Stock Exchange (NYSE symbols: "IRET" and "IRET PC," respectively).

Further Reading: Cost of Debt

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