Investors Real Estate Trust (NYSE:CSR) Downgraded by Zacks Investment Research to “Hold”
Investors Real Estate Trust (NYSE: CSR) was downgraded from a “buy” rating to a “hold” rating by Zacks Investment Research in a research report issued to clients and investors on Tuesday, reports Zacks.com.
According to Zacks, “Centerspace is a real estate development company. It focuses on the ownership, management, acquisition, refurbishment and development of shared apartments. Centerspace, formerly known as IRET, is based in MINNEAPOLIS. “
Other research analysts have also released reports on the stock. B. Riley reiterated a “Buy” rating on shares of investor Real Estate Trust in a research release on Tuesday, September 28th. BMO Capital Markets has downgraded the shares of Investors Real Estate Trust from an “Outperform” rating to a “Market Perform” rating. $ 00 raised to $ 112.00. BTIG Research raised its price target for the shares of Investors Real Estate Trust from USD 108.00 to USD 115.00 and gave the company a “Buy” rating on Monday in a research note. Finally, Raymond James raised his price target for shares in Investors Real Estate Trust from USD 96.00 to USD 110.00 and rated the company as “outperform” in a research release on Monday, September 20th. Four analysts have given the share a hold rating and five have given it a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $ 102.38.
Investors Real Estate Trust stock fell $ 2.79 during Tuesday’s trading to hit $ 104.26. The company’s share had a trading volume of 129,659 shares compared to an average volume of 67,084 shares. The company has a debt of 0.64, a quick ratio of 0.06, and a current ratio of 0.06. The company has a fifty day simple moving average of $ 102.12 and a two hundred day simple moving average of $ 93.80. The company has a market cap of $ 1.49 billion, a P / E of -372.34, a P / E of 3.82, and a beta of 0.92. Investors Real Estate Trust has a 52-week low of $ 66.91 and a 52-week high of $ 111.73.
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Investors Real Estate Trust (NYSE: CSR) last released its quarterly results on Monday, November 1st. The company reported ($ 0.38) earnings per share (EPS) for the quarter, beating Thomson Reuters’ consensus estimate of ($ 0.43) by $ 0.05. Investors Real Estate Trust had a net margin of 1.48% and a return on equity of 0.42%. For the same period last year, the company had earnings per share of $ 0.94. As a group, analysts forecast that Investors Real Estate Trust will post 3.97 EPS for the current year.
Hedge funds and other institutional investors have recently changed their positions in the company. Amalgamated Bank acquired a new stake in Investors Real Estate Trust worth approximately $ 509,000 in the second quarter. Russell Investments Group Ltd. acquired a new stake in Investors Real Estate Trust worth approximately $ 66,000 in the second quarter. Comerica Bank increased its stake in Investors Real Estate Trust shares by 4.8% in the third quarter. Comerica Bank now owns 12,726 shares in the company valued at $ 1,320,000 after purchasing an additional 578 shares last quarter. Ensign Peak Advisors Inc increased its stake in Investors Real Estate Trust shares by 41.0% in the third quarter. Ensign Peak Advisors Inc. now owns 5,500 shares in the company valued at $ 520,000 after purchasing an additional 1,600 shares last quarter. Finally, SG Americas Securities LLC increased its holdings in Investors Real Estate Trust by 859.6% in the third quarter. SG Americas Securities LLC now owns 21,707 shares of the company valued at $ 2,051,000 after purchasing an additional 19,445 shares last quarter. 75.75% of the shares are currently owned by hedge funds and other institutional investors.
About Investors Real Estate Trust
Centerspace deals with the ownership, management, acquisition, refurbishment and development of residential communities. It focuses on operational improvements to improve the resident experience, redeveloping existing shared apartments to meet market demands, and acquiring new shared apartments in Minneapolis / St.
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