Hotel-property transactions jumped 47 percent to $14.1 billion this year through July in the U.S., according to Real Capital Analytics Inc. Sales by institutional investors, including private-equity funds, more than doubled in the first half, as the growth of revenue per available room slowed. Blackstone Group LP (BX) , the largest buyout firm, has decided nows the time to sell shares as it prepares initial public offerings of Hilton Worldwide Holdings Inc. and Extended Stay America Inc. A recovery in travel after the last recession has led to hotel real estate values almost doubling since 2009s low, based on an index from research firm Green Street Advisors Inc.
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Investors Real Estate Trust Given “Hold” Rating at BMO Capital Markets (IRET)
Separately, analysts at Janney Montgomery Scott initiated coverage on shares of Investors Real Estate Trust (NASDAQ:IRET) in a research note to investors on Tuesday, September 10th. They set a neutral rating on the stock. Finally, analysts at Robert W. Baird upgraded shares of Investors Real Estate Trust (NASDAQ:IRET) from a neutral rating to an outperform rating in a research note to investors on Wednesday, July 17th. In other Investors Real Estate Trust news, Director Jeffrey Miller acquired 10,000 shares of Investors Real Estate Trust stock on the open market in a transaction dated Friday, September 13th. The shares were purchased visit at an average price of $8.10 per share, with a total value of $81,000.00.
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