BlackRock Inc. Has $60.45 Million Stake in Investors Real Estate Trust Reit (IRET)

Share on StockTwits

BlackRock Inc. grew its stake in Investors Real Estate Trust Reit (NYSE:IRET) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,931,896 shares of the real estate investment trust’s stock after acquiring an additional 353,461 shares during the quarter. BlackRock Inc. owned about 9.15% of Investors Real Estate Trust Reit worth $60,453,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in IRET. Raymond James Financial Services Advisors Inc. boosted its position in shares of Investors Real Estate Trust Reit by 167.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 29,190 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 18,257 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Investors Real Estate Trust Reit by 175.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,112 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 19,800 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Investors Real Estate Trust Reit by 82.8% in the 2nd quarter. SG Americas Securities LLC now owns 33,104 shares of the real estate investment trust’s stock worth $183,000 after purchasing an additional 14,990 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its position in shares of Investors Real Estate Trust Reit by 131.1% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 35,416 shares of the real estate investment trust’s stock worth $184,000 after purchasing an additional 20,092 shares in the last quarter. Finally, Independent Advisor Alliance acquired a new stake in shares of Investors Real Estate Trust Reit in the 2nd quarter worth $203,000. Institutional investors and hedge funds own 57.08% of the company’s stock.

Investors Real Estate Trust Reit stock opened at $5.34 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $714.65 million, a PE ratio of 14.05, a price-to-earnings-growth ratio of 2.85 and a beta of 0.72. Investors Real Estate Trust Reit has a 1-year low of $4.61 and a 1-year high of $6.34.

Investors Real Estate Trust Reit (NYSE:IRET) last issued its quarterly earnings results on Monday, September 10th. The real estate investment trust reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.07). Investors Real Estate Trust Reit had a negative return on equity of 4.92% and a net margin of 69.92%. The firm had revenue of $45.95 million for the quarter, compared to analyst estimates of $44.94 million. As a group, equities research analysts expect that Investors Real Estate Trust Reit will post 0.35 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Monday, September 17th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, September 14th. This represents a $0.28 dividend on an annualized basis and a yield of 5.24%. Investors Real Estate Trust Reit’s dividend payout ratio is currently 73.68%.

A number of analysts have recently weighed in on IRET shares. Zacks Investment Research raised Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a research report on Thursday, September 13th. Robert W. Baird raised Investors Real Estate Trust Reit from a “neutral” rating to an “outperform” rating in a research report on Tuesday, September 25th. Finally, Boenning Scattergood started coverage on Investors Real Estate Trust Reit in a research report on Monday, September 17th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $6.00.

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 April 30, 2018, IRET owned interests in 90 apartment communities consisting of 14,176 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).

See Also: Stock Selection – What is cash flow?

Institutional Ownership by Quarter for Investors Real Estate Trust Reit (NYSE:IRET)

Receive News & Ratings for Investors Real Estate Trust Reit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Real Estate Trust Reit and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply