Investors Real Estate Trust (IRET) was Downgraded by Robert W. Baird to ” Neutral” while Lowering the Price Target of the company shares to $ 7 from a previous price target of $8 . Earlier the firm had a rating of “Outperform ” on the company shares. Robert W. Baird advised their investors in a research report released on Jul 7, 2016.
On the company’s financial health, Investors Real Estate Trust reported $0.14 EPS for the quarter, based on the information available during the earnings call on Jun 29, 2016. Analyst had a consensus estimate of $0.14. The company had revenue of $48.50 million for the quarter, compared to analysts expectations of $57.61 million. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.
Investors Real Estate Trust closed down -0.14 points or -2.16% at $6.35 with 7,68,491 shares getting traded on Tuesday. Post opening the session at $6.38, the shares hit an intraday low of $6.29 and an intraday high of $6.42 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Dec 15, 2015, Jeffrey Caira (director) purchased 15,000 shares at $7.17 per share price. According to the SEC, on Dec 2, 2015, Pamela J Moret (director) purchased 6,839 shares at $7.29 per share price. On Sep 25, 2015, Mark W Reiling (EVP & Chief Investment Officer) purchased 2,000 shares at $7.60 per share price, according to the Form-4 filing with the securities and exchange commission.
Investors Real Estate Trust (IRET) is a self-advised equity real estate investment trust (REIT). The Company’s business consists of owning and operating income-producing real estate properties. IRET operates through five segments: multi-family residential; office; healthcare including senior housing; industrial and retail properties. The Company’s properties are located primarily in the upper Midwest states of Minnesota and North Dakota. As of April 30 2015 IRET’s real estate portfolio consisted of 100 multi-family residential properties containing 11844 apartment units; 53 office properties containing 4.2 million square feet of leasable space; 66 healthcare properties including senior housing containing approximately three million square feet of leasable space; seven industrial properties containing 1.2 million square feet of leasable space and 23 retail properties containing 1.2 million square feet of leasable space.