Pacific Heights Asset Management LLC Lowers Holdings in Investors Real Estate Trust Reit (IRET)

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Pacific Heights Asset Management LLC decreased its stake in Investors Real Estate Trust Reit (NYSE:IRET) by 90.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 250,000 shares of the real estate investment trust’s stock after selling 2,250,000 shares during the quarter. Investors Real Estate Trust Reit accounts for about 1.7% of Pacific Heights Asset Management LLC’s portfolio, making the stock its 17th largest position. Pacific Heights Asset Management LLC owned approximately 2.09% of Investors Real Estate Trust Reit worth $12,268,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in IRET. Quantamental Technologies LLC bought a new stake in shares of Investors Real Estate Trust Reit in the 4th quarter valued at about $36,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Investors Real Estate Trust Reit during the 3rd quarter valued at about $117,000. Jane Street Group LLC boosted its position in shares of Investors Real Estate Trust Reit by 80.8% during the 3rd quarter. Jane Street Group LLC now owns 20,970 shares of the real estate investment trust’s stock valued at $125,000 after purchasing an additional 9,373 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Investors Real Estate Trust Reit by 1,853.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 21,484 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 20,384 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Investors Real Estate Trust Reit by 67.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,346 shares of the real estate investment trust’s stock valued at $140,000 after purchasing an additional 9,371 shares in the last quarter.

In other Investors Real Estate Trust Reit news, CFO John Kirchmann bought 19,995 shares of Investors Real Estate Trust Reit stock in a transaction dated Friday, December 14th. The stock was bought at an average cost of $5.22 per share, with a total value of $104,373.90. Following the completion of the acquisition, the chief financial officer now directly owns 62,391 shares in the company, valued at approximately $325,681.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary J. Twinem bought 1,025 shares of Investors Real Estate Trust Reit stock in a transaction dated Monday, December 31st. The stock was acquired at an average cost of $48.43 per share, with a total value of $49,640.75. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 35,713 shares of company stock valued at $271,109. 0.85% of the stock is currently owned by corporate insiders.

Shares of Investors Real Estate Trust Reit stock opened at $59.84 on Thursday. The company has a market capitalization of $709.64 million, a PE ratio of 15.75, a P/E/G ratio of 2.80 and a beta of 0.95. Investors Real Estate Trust Reit has a 52 week low of $46.10 and a 52 week high of $60.00. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.64 and a quick ratio of 0.64.

Investors Real Estate Trust Reit (NYSE:IRET) last issued its quarterly earnings data on Monday, December 10th. The real estate investment trust reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.05. The firm had revenue of $45.64 million during the quarter, compared to the consensus estimate of $45.26 million. Investors Real Estate Trust Reit had a negative return on equity of 5.78% and a net margin of 63.45%. On average, equities research analysts predict that Investors Real Estate Trust Reit will post 3.56 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, December 31st. Investors Real Estate Trust Reit’s dividend payout ratio is presently 73.68%.

A number of research analysts recently weighed in on IRET shares. Zacks Investment Research downgraded Investors Real Estate Trust Reit from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. ValuEngine raised Investors Real Estate Trust Reit from a “hold” rating to a “buy” rating in a research note on Monday, December 17th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Investors Real Estate Trust Reit in a research note on Tuesday, December 11th.

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Investors Real Estate Trust Reit Company Profile

IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities. As of October 31, 2018, we owned interests in 87 apartment communities consisting of 13,702 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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Institutional Ownership by Quarter for Investors Real Estate Trust Reit (NYSE:IRET)

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