Investors Real Estate Trust Reit (NYSE:IRET) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit (NYSE:IRET) from a hold rating to a buy rating in a research note issued to investors on Tuesday, Zacks.com reports. They currently have $81.00 price target on the real estate investment trust’s stock.

According to Zacks, “Investors Real Estate Trust is a real estate investment trust operating in the Midwest. “

Several other equities analysts also recently issued reports on IRET. ValuEngine upgraded Investors Real Estate Trust Reit from a sell rating to a hold rating in a research report on Friday, November 1st. Raymond James initiated coverage on Investors Real Estate Trust Reit in a research report on Thursday, October 17th. They set an outperform rating and a $83.00 price objective for the company. DA Davidson reiterated a buy rating on shares of Investors Real Estate Trust Reit in a research report on Monday, July 29th. BMO Capital Markets boosted their price objective on Investors Real Estate Trust Reit from $74.00 to $76.00 and gave the stock an outperform rating in a research report on Friday, August 23rd. Finally, Compass Point initiated coverage on Investors Real Estate Trust Reit in a research report on Monday, July 22nd. They set a buy rating and a $67.50 price objective for the company. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $77.30.

IRET stock traded up $0.09 during midday trading on Tuesday, reaching $74.58. The company had a trading volume of 46,998 shares, compared to its average volume of 89,320. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.90. The stock has a 50 day moving average price of $74.81 and a 200 day moving average price of $66.28. Investors Real Estate Trust Reit has a fifty-two week low of $46.30 and a fifty-two week high of $79.00. The firm has a market capitalization of $862.93 million, a PE ratio of 21.83, a P/E/G ratio of 3.32 and a beta of 0.83.

Several hedge funds and other institutional investors have recently modified their holdings of IRET. Renaissance Technologies LLC raised its holdings in Investors Real Estate Trust Reit by 6.3% during the second quarter. Renaissance Technologies LLC now owns 550,889 shares of the real estate investment trust’s stock worth $32,321,000 after purchasing an additional 32,700 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Investors Real Estate Trust Reit by 18.2% during the third quarter. Russell Investments Group Ltd. now owns 314,592 shares of the real estate investment trust’s stock worth $23,487,000 after purchasing an additional 48,442 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Investors Real Estate Trust Reit by 35.7% during the second quarter. Nuveen Asset Management LLC now owns 286,191 shares of the real estate investment trust’s stock worth $16,790,000 after purchasing an additional 75,262 shares in the last quarter. Northern Trust Corp raised its holdings in Investors Real Estate Trust Reit by 2.1% during the second quarter. Northern Trust Corp now owns 203,711 shares of the real estate investment trust’s stock worth $11,952,000 after purchasing an additional 4,226 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Investors Real Estate Trust Reit by 3.1% during the second quarter. Bank of New York Mellon Corp now owns 85,234 shares of the real estate investment trust’s stock worth $5,000,000 after purchasing an additional 2,549 shares in the last quarter. Institutional investors and hedge funds own 63.12% of the company’s stock.

About Investors Real Estate Trust Reit

IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities. As of December 31, 2018, IRET owned interests in 87 apartment communities consisting of 13,702 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 PRC, respectively).

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