Revenue Update on Investors Real Estate Trust(NYSE:IRET)

Investors Real Estate Trust(NYSE:IRET) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-hours on Jun 29, 2016. Company reported revenue of $48.52M. Analysts estimated a revenue of $56.87M. Earnings per share were $0.12. Analysts had estimated an EPS of $0.14.

Investors Real Estate Trust (IRET) made into the market gainers list on Fridays trading session with the shares advancing 0.31% or 0.02 points. Due to strong positive momentum, the stock ended at $6.49, which is also near the day’s high of $6.52. The stock began the session at $6.48 and the volume stood at 9,09,088 shares. The 52-week high of the shares is $8.39 and the 52 week low is $5.8625. The company has a current market capitalization of $786 M and it has 12,10,91,249 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Dec 15, 2015, Jeffrey Caira (director) purchased 15,000 shares at $7.17 per share price.Also, On Dec 2, 2015, Pamela J Moret (director) purchased 6,839 shares at $7.29 per share price.On Sep 25, 2015, Mark W Reiling (EVP & Chief Investment Officer) purchased 2,000 shares at $7.60 per share price, according to the Form-4 filing with the securities and exchange commission.

Investors Real Estate Trust (IRET) is a self-advised equity real estate investment trust (REIT). The Company’s business consists of owning and operating income-producing real estate properties. IRET operates through five segments: multi-family residential; office; healthcare including senior housing; industrial and retail properties. The Company’s properties are located primarily in the upper Midwest states of Minnesota and North Dakota. As of April 30 2015 IRET’s real estate portfolio consisted of 100 multi-family residential properties containing 11844 apartment units; 53 office properties containing 4.2 million square feet of leasable space; 66 healthcare properties including senior housing containing approximately three million square feet of leasable space; seven industrial properties containing 1.2 million square feet of leasable space and 23 retail properties containing 1.2 million square feet of leasable space.

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