In a bid to transform into a pure play multifamily company, Investors Real Estate Trust (IRET - Free Report) has entered into six separate deals to dispose senior housing properties for $236 million. In fact, the Minot, ND-based real estate investment trust (“REIT”) inked the sales deals with several affiliates of Edgewood Senior Living for the planned disposition of 26 senior housing properties and one multifamily property. Presently, the affiliates of the buyers lease 25 out of the 26 senior housing properties. The company expects the deal to complete by 2017, subject to the satisfaction of certain customary closing conditions.
Investors Real Estate Trust is engaged in acquiring, developing, redeveloping and managing multifamily communities located mainly in select growth markets all over the Midwest.
The company aims at taking advantage of the pipeline of opportunities and raise the value for the shareholders. These transactions are likely to enhance the value of Investors Real Estate Trust’s portfolio and raise capital for new investment purposes.
The stock presently carries a Zacks Rank #4 (Sell).
Investors interested in the REIT sector can consider some better-ranked stocks like Alexandria Real Estate Equities, Inc. (ARE - Free Report) , Arbor Realty Trust Inc. (ABR - Free Report) and CareTrust REIT, Inc. (CTRE - Free Report) . All these stocks hold a Zacks Rank #2 (Buy).
Confidential from Zacks
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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In a bid to transform into a pure play multifamily company, Investors Real Estate Trust (IRET - Free Report) has entered into six separate deals to dispose senior housing properties for $236 million. In fact, the Minot, ND-based real estate investment trust (“REIT”) inked the sales deals with several affiliates of Edgewood Senior Living for the planned disposition of 26 senior housing properties and one multifamily property. Presently, the affiliates of the buyers lease 25 out of the 26 senior housing properties. The company expects the deal to complete by 2017, subject to the satisfaction of certain customary closing conditions.
Investors Real Estate Trust is engaged in acquiring, developing, redeveloping and managing multifamily communities located mainly in select growth markets all over the Midwest.
The company aims at taking advantage of the pipeline of opportunities and raise the value for the shareholders. These transactions are likely to enhance the value of Investors Real Estate Trust’s portfolio and raise capital for new investment purposes.
The stock presently carries a Zacks Rank #4 (Sell).
Investors interested in the REIT sector can consider some better-ranked stocks like Alexandria Real Estate Equities, Inc. (ARE - Free Report) , Arbor Realty Trust Inc. (ABR - Free Report) and CareTrust REIT, Inc. (CTRE - Free Report) . All these stocks hold a Zacks Rank #2 (Buy).
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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