In a report released today, Merrill Ross from Boenning & Scattergood maintained a Hold rating on Investors Real Estate ate (IRET). The company’s shares closed on Friday at $58.67.
“We believe the dividend is secure, though we think the company’s markets are not quite as strong as some of its peers and the company’s efficiency, while improving, is below average. We think IRET has divested non-productive, non-core assets, but still has ways to go in order to improve the efficiency of operations. Still, we think that the company could deliver stronger operating metrics in 2020, based on investments in technology used to improve operational metrics in 2019. We believe the shares are fairly valued based on expectations for 2019 and we maintain our Neutral rating.”
According to TipRanks.com, Ross is a 1-star analyst with an average return of -0.4% and a 48.8% success rate. Ross covers the Financial sector, focusing on stocks such as Essential Properties Realty Trust Inc, Pennsylvania Real Estate Investment, and Monmouth Real Estate Investment.
The the analyst consensus on Investors Real Estate ate is currently a Hold rating.
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Based on Investors Real Estate ate’s latest earnings release for the quarter ending October 31, the company reported a quarterly GAAP net loss of $4.56 million. In comparison, last year the company had a GAAP net loss of $15.3 million.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IRET in relation to earlier this year.
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Investors Real Estate Trust is a real estate investment trust, which engages in the ownership, management, acquisition, redevelopment, and development of apartment communities. It focuses on making operational enhancements to improve residents’ experience, redeveloping existing apartment communities to meet current market demands, and acquiring new apartment communities in the Minneapolis/St. Paul and Denver metropolitan areas. The company was founded on July 31, 1970 and is headquartered in Minot, ND.