Investors Real Estate Trust, Mark Reiling: In a recent Form 4 filing with the SEC, Mark W Reiling, Executive Vice President at Investors Real Estate Trust (NYSE:IRET), bought 1,500 shares of common stock at $8.11 a pop. The transaction is said to be worth approximately $12,174, taking the position of Mr. Reiling to total 24,350 shares under his direct control, or an estimated $198,939 worth of capital.
This is the second transaction from Mr. Reiling this year. The first was accomplished in August 4th, for 1,000 shares of common stock at a price of $9.56 each, for a total transaction value of $9,560. Although the operation has placed an important number of shares under the control of Mr. Reiling, his position continues to be dwarfed by major shareholder Renaissance Technologies, led by Jim Simons. The hedge fund currently holds 574,845 shares, or $4.6 million worth in capital invested.
Most Wall Street price targets estimate upside of $1 to $2 per share is possible from here, so we’ll keep watching closely.
Disclosure: Jodor Jalit holds no position in any of the mentioned stocks.