Boenning & Scattergood analyst Merrill Ross maintained a Hold rating on Investors Real Estate ate (IRET) today. The company’s shares closed yesterday at $49.92.
“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. As we think IRET still has ways to go in divesting non- productive assets and improving efficiency of operations, we believe the shares are fairly valued and we maintain our Neutral rating.”
According to TipRanks.com, Ross is a 1-star analyst with an average return of -3.0% and a 41.4% success rate. Ross covers the Financial sector, focusing on stocks such as Essential Properties Realty Trust Inc, Pennsylvania Real Estate Investment, and Preferred Apartment Communities.
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 net profit of $583K.
Based on the recent corporate insider activity of 31 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.