Analysts expect Independence Realty Trust Inc (NYSE:IRT) to post $42.51 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Independence Realty Trust’s earnings. The highest sales estimate is $44.05 million and the lowest is $40.13 million. Independence Realty Trust posted sales of $38.00 million during the same quarter last year, which suggests a positive year over year growth rate of 11.9%. The company is scheduled to report its next earnings results before the market opens on Tuesday, February 20th.
On average, analysts expect that Independence Realty Trust will report full year sales of $42.51 million for the current financial year, with estimates ranging from $158.32 million to $162.82 million. For the next fiscal year, analysts anticipate that the business will post sales of $178.94 million per share, with estimates ranging from $164.29 million to $189.76 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Independence Realty Trust.
Several analysts recently issued reports on the company. Zacks Investment Research downgraded Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. National Securities lifted their target price on Independence Realty Trust from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, November 22nd. B. Riley reissued a “buy” rating on shares of Independence Realty Trust in a research note on Wednesday, November 1st. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Independence Realty Trust in a research note on Wednesday, November 1st. Finally, KeyCorp assumed coverage on Independence Realty Trust in a research note on Tuesday, December 5th. They set a “sector weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $11.33.
A number of institutional investors and hedge funds have recently modified their holdings of IRT. Jennison Associates LLC bought a new stake in Independence Realty Trust during the 3rd quarter valued at approximately $12,713,000. Phocas Financial Corp. bought a new stake in Independence Realty Trust in the 2nd quarter worth approximately $10,757,000. Principal Financial Group Inc. increased its stake in Independence Realty Trust by 93.7% in the 3rd quarter. Principal Financial Group Inc. now owns 2,121,772 shares of the real estate investment trust’s stock worth $21,578,000 after acquiring an additional 1,026,415 shares during the last quarter. Barings LLC bought a new stake in Independence Realty Trust in the 3rd quarter worth approximately $9,490,000. Finally, Citadel Advisors LLC increased its stake in Independence Realty Trust by 1,006.0% in the 3rd quarter. Citadel Advisors LLC now owns 759,896 shares of the real estate investment trust’s stock worth $7,728,000 after acquiring an additional 691,187 shares during the last quarter. 78.57% of the stock is currently owned by institutional investors.
Shares of Independence Realty Trust (NYSE:IRT) opened at $9.19 on Thursday. The stock has a market capitalization of $758.35, a P/E ratio of 12.44 and a beta of 1.06. Independence Realty Trust has a 12 month low of $8.57 and a 12 month high of $10.63. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.40.
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Independence Realty Trust Company Profile
Independence Realty Trust, Inc is an internally-managed real estate investment trust (REIT). The Company is engaged in the business of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of real estate assets. The Company owns apartment properties in geographic non-gateway markets.
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