Investors Real Estate Trust (NYSE:IRET) Receives a Downgrade
The stock rating of Investors Real Estate Trust (NYSE:IRET) was lowered by stock research analysts at Wunderlich from a the old Buy rating to a more updated Hold in recent note sent to investors and clients on Friday, 18 December. The brokerage firm now has a $7.50 PT on shares, suggesting a possible upside of 4.17%.
From a total of 3 analysts covering Investors Real Estate Trust (NYSE:IRET) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $10 while the lowest target price is $8. The mean of all analyst targets is $9 with a 25.00% above today’s ($7.2) stock price. Investors Real Estate Trust was the topic of 2 analyst reports since September 1, 2015 according to the firm StockzIntelligence Inc. DA Davidson initiated shares on September 18 with “Buy” rating.
The stock decreased 3.23% or $0.24 on December 18, striking $7.2. Approximately 1.48M shares of stock traded hands or 196.75% up from the average. Investors Real Estate Trust (NYSE:IRET) has 0.00% since May 15, 2015 and is . It has outperformed by 3.81% the S&P500.
The overall sentiment of institutions has increased to 1.35 in Q2 2015. Its up 0.16, from 1.19 in 2015Q2. The ratio increased, as 4 institutions have sold all the shares of Investors Real Estate Trust that they owned while 53 funds have taken shares off the table. 23 funds have purchased shares for the first time while 54 added to their positions. These institutions now hold 58.01 million shares or 2.19% less than the 59.30 million shares they owned in 2015Q2.
The Fund Investment Centers Of America Inc currently is holding shares equating to 1.53% of its total portfolio in Investors Real Estate Trust representing a total of 1.30 million shares. Another fund,Grace & White Inc Ny, is holding a total of 834,241 shares equating to 1.49% of their holdings. Additionally, Security National Bank Of Sioux City Iowa Ia has a 149,858 share stake in Investors Real Estate Trust which represents 1.36% of their total portfolio. The Fund, Pacific Heights Asset Management Llc, based out of California, has also built up a stake in the stock, which represents a total of 1.04% of their total portfolio. Finally Global X Management Co Llc, a fund which is based in the state of New York reported a total holdings of 1.30 million shares.
Insider activity is a very important aspect to track on any stock. Going back to March 17, 2015, shareholders of Investors Real Estate Trust have witnessed 3 insider purchases, and a total of 0 selling transactions equating to a net activity of approximately $80,701 . Reiling Mark W bought 2,000 shares worth approximately $15,207. Moret Pamela J bought 6,839 shares worth approximately $49,854. Stewart John D bought 2,300 shares worth approximately $15,640.
Investors Real Estate Trust is a self-advised equity real estate investment trust (REIT). The company has a market cap of $1.02 billion. The Company’s business consists of owning and operating income-producing real estate properties. It has 56.95 P/E ratio. IRET operates through five divisions: multi-family residential; office; healthcare, including senior housing; industrial and retail properties.
According to Zacks Investment Research, “Investors Real Estate Trust is a real estate investment trust operating in the Midwest.”