Investors Real Estate Trust (NYSE:IRET) Holding Trimmed by Metropolitan Life Insurance Co. NY

Investors Real Estate Trust (NYSE:IRET) Holding Trimmed by Metropolitan Life Insurance Co. NY

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fox Run Management L.L.C. purchased a new position in shares of Investors Real Estate Trust in the 4th quarter worth $108,000. SG Americas Securities LLC boosted its stake in shares of Investors Real Estate Trust by 68.8% during the 3rd quarter. SG Americas Securities LLC now owns 30,118 shares of the real estate investment trust’s stock worth $184,000 after purchasing an additional 12,280 shares during the period. Stockman Wealth Management Inc. purchased a new position in shares of Investors Real Estate Trust during the 4th quarter worth about $185,000. Jane Street Group LLC purchased a new position in shares of Investors Real Estate Trust during the 4th quarter worth about $205,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of Investors Real Estate Trust by 315.7% during the 4th quarter. Teacher Retirement System of Texas now owns 41,761 shares of the real estate investment trust’s stock worth $237,000 after purchasing an additional 31,714 shares during the period. Institutional investors own 57.63% of the company’s stock.

Metropolitan Life Insurance Co. NY reduced its stake in Investors Real Estate Trust (NYSE:IRET) by 51.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,464 shares of the real estate investment trust’s stock after selling 45,678 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Investors Real Estate Trust were worth $247,000 as of its most recent SEC filing.

Several equities research analysts have issued reports on IRET shares. Zacks Investment Research cut shares of Investors Real Estate Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, January 16th. ValuEngine cut shares of Investors Real Estate Trust from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Robert W. Baird set a $6.00 price objective on shares of Investors Real Estate Trust and gave the company a “hold” rating in a research report on Friday, March 2nd.

NYSE:IRET opened at $5.38 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $651.80 million, a PE ratio of 11.45, a price-to-earnings-growth ratio of 2.19 and a beta of 0.74. Investors Real Estate Trust has a one year low of $4.61 and a one year high of $6.75.

Investors Real Estate Trust (NYSE:IRET) last posted its quarterly earnings data on Monday, March 12th. The real estate investment trust reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.21). The firm had revenue of $43.25 million for the quarter, compared to the consensus estimate of $54.08 million. Investors Real Estate Trust had a negative return on equity of 3.73% and a net margin of 82.22%. research analysts forecast that Investors Real Estate Trust will post 0.35 earnings per share for the current year.

In related news, Director Michael T. Dance bought 9,000 shares of the company’s stock in a transaction on Monday, March 19th. The shares were bought at an average price of $5.01 per share, with a total value of $45,090.00. Following the transaction, the director now owns 33,695 shares in the company, valued at $168,811.95. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have acquired 17,300 shares of company stock worth $85,997. 1.04% of the stock is owned by insiders.

Investors Real Estate Trust Profile

IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of multifamily apartment communities. As of January 31, 2018, IRET owned interests in 89 multifamily properties consisting of 13,786 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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