Martingale Asset Management L P Sells 20,164 Shares of Investors Real Estate Trust Reit (IRET)

Share on StockTwits

Martingale Asset Management L P trimmed its holdings in shares of Investors Real Estate Trust Reit (NYSE:IRET) by 63.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,836 shares of the real estate investment trust’s stock after selling 20,164 shares during the period. Martingale Asset Management L P’s holdings in Investors Real Estate Trust Reit were worth $582,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new position in Investors Real Estate Trust Reit in the 4th quarter worth approximately $36,000. Dynamic Technology Lab Private Ltd purchased a new position in Investors Real Estate Trust Reit in the 3rd quarter worth approximately $117,000. Jane Street Group LLC raised its holdings in Investors Real Estate Trust Reit by 80.8% in the 3rd quarter. Jane Street Group LLC now owns 20,970 shares of the real estate investment trust’s stock worth $125,000 after acquiring an additional 9,373 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Investors Real Estate Trust Reit by 67.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,346 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 9,371 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Investors Real Estate Trust Reit in the 4th quarter worth approximately $145,000. Hedge funds and other institutional investors own 60.62% of the company’s stock.

A number of equities analysts recently weighed in on IRET shares. Boenning Scattergood restated a “hold” rating on shares of Investors Real Estate Trust Reit in a report on Tuesday, December 11th. Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Saturday, March 2nd. Finally, ValuEngine upgraded shares of Investors Real Estate Trust Reit from a “hold” rating to a “buy” rating in a research note on Monday, December 17th.

In related news, Director Michael T. Dance purchased 1,000 shares of the firm’s stock in a transaction on Monday, December 31st. The shares were acquired at an average price of $47.32 per share, for a total transaction of $47,320.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Okey Decker, Jr. purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, December 19th. The stock was bought at an average price of $5.20 per share, for a total transaction of $26,000.00. Following the purchase, the chief executive officer now owns 183,435 shares in the company, valued at $953,862. The disclosure for this purchase can be found here. Insiders purchased a total of 15,973 shares of company stock valued at $181,607 in the last ninety days. 0.85% of the stock is currently owned by insiders.

Shares of IRET opened at $58.10 on Friday. The firm has a market cap of $703.12 million, a price-to-earnings ratio of 15.29, a P/E/G ratio of 2.69 and a beta of 0.97. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.17. Investors Real Estate Trust Reit has a 1-year low of $46.30 and a 1-year high of $62.24.

Investors Real Estate Trust Reit (NYSE:IRET) last issued its quarterly earnings data on Monday, December 10th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.05. Investors Real Estate Trust Reit had a net margin of 63.45% and a negative return on equity of 5.78%. The firm had revenue of $45.64 million during the quarter, compared to the consensus estimate of $45.26 million. Sell-side analysts expect that Investors Real Estate Trust Reit will post 3.63 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be issued a $0.70 dividend. The ex-dividend date is Thursday, March 14th. This represents a $2.80 annualized dividend and a yield of 4.82%. This is an increase from Investors Real Estate Trust Reit’s previous quarterly dividend of $0.07. Investors Real Estate Trust Reit’s dividend payout ratio is currently 73.68%.

TRADEMARK VIOLATION NOTICE: “Martingale Asset Management L P Sells 20,164 Shares of Investors Real Estate Trust Reit (IRET)” was published by Week Herald and is owned by of Week Herald. If you are viewing this story on another website, it was illegally copied and republished in violation of US & international copyright and trademark laws. The original version of this story can be read at https://weekherald.com/2019/03/15/martingale-asset-management-l-p-sells-20164-shares-of-investors-real-estate-trust-reit-iret.html.

Investors Real Estate Trust Reit Profile

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).

See Also: What Are Cryptocurrencies?

Want to see what other hedge funds are holding IRET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Investors Real Estate Trust Reit (NYSE:IRET).

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.