Zacks Investment Research Reduces Ownership of Investors Real Estate Trust (NYSE: CSR)
Investors Real Estate Trust (NYSE: CSR) was downgraded by Zacks Investment Research from a “buy” rating to a “custody” rating in a research note issued to investors on Monday, Zacks.com reports.
According to Zacks, “Centerspace is a real estate development company. She focuses on the ownership, management, acquisitions, redevelopment and development of apartment communities. Centerspace, formerly known as IRET, is based at MINNEAPOLIS.
CSR has been the subject of a number of other research reports. Raymond James increased his price target on Investors Real Estate Trust from $ 96.00 to $ 110.00 and rated the stock as “outperforming” in a research report released on Monday, September 20. B. Riley reaffirmed a “buy” note on Investors Real Estate Trust shares in a research note on Tuesday, September 28. Three analysts rated the stock with a conservation rating and six issued a buy rating for the stock. According to MarketBeat, Investors Real Estate Trust currently has an average “Buy” rating and a consensus target price of $ 94.00.
Shares of Investors Real Estate Trust traded up $ 2.48 on Monday, reaching $ 108.16. The stock had a trade volume of 115,452 shares, compared to an average volume of 66,669. Investors Real Estate Trust has a twelve month low of $ 66.91 and a twelve month high of $ 108.89. The company’s 50-day moving average is $ 100.95 and its two-hundred-day moving average is $ 92.47. The company has a rapid ratio of 0.06, a current ratio of 0.06, and a debt ratio of 0.64. The stock has a market cap of $ 1.54 billion, a price-to-earnings ratio of -386.27, a price-to-earnings-growth ratio of 3.78, and a beta of 0.92.
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Investors Real Estate Trust (NYSE: CSR) last released its results on Monday, November 1. The company reported ($ 0.38) EPS for the quarter, beating the consensus estimate of ($ 0.43) by $ 0.05. Investors Real Estate Trust recorded a return on equity of 0.42% and a net margin of 1.48%. During the same period of the previous year, the company achieved EPS of $ 0.94. As a group, stock analysts predict that Investors Real Estate Trust will post earnings per share of 3.97 for the current fiscal year.
Several institutional investors and hedge funds have recently changed their positions on CSR. Russell Investments Group Ltd. purchased a new position in Investors Real Estate Trust in the second quarter valued at $ 66,000. Amalgamated Bank purchased a new position in Investors Real Estate Trust in the second quarter valued at $ 509,000. Metropolitan Life Insurance Co NY increased its stake in Investors Real Estate Trust by 96,080.0% in the second quarter. Metropolitan Life Insurance Co NY now owns 4,809 shares of the company valued at $ 379,000 after purchasing an additional 4,804 shares during the period. SG Americas Securities LLC increased its stake 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 during the period. Finally, Ensign Peak Advisors Inc increased its stake in Investors Real Estate Trust by 41.0% in the third quarter. Ensign Peak Advisors Inc now owns 5,500 shares of the company valued at $ 520,000 after purchasing an additional 1,600 shares during the period. Institutional investors hold 75.75% of the shares of the company.
Investors Real Estate Trust Company Profile
Centerspace engages in the ownership, management, acquisition, redevelopment and development of apartment communities. It focuses on operational improvements to improve the resident experience, redeveloping existing apartment communities to meet market demands, and acquiring new apartment communities in the city of Minneapolis / St.
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