Zacks Investment Research upgraded shares of Independence Realty Trust (NYSE:IRT) from a sell rating to a hold rating in a research report report published on Tuesday, January 9th.
According to Zacks, “Independence Realty Trust, Inc. is a real estate investment trust. It is focused on acquiring and owning well-located garden-style and mid-rise apartment properties. The Company owns apartment properties primarily in Arizona, Colorado, Georgia, Indiana, Texas and Virginia. Independence Realty Trust, Inc. is based in United States. “
IRT has been the subject of several other research reports. National Securities increased their price objective on Independence Realty Trust from $9.00 to $11.00 and gave the stock a neutral rating in a report on Wednesday, November 22nd. B. Riley reaffirmed a buy rating on shares of Independence Realty Trust in a research report on Wednesday, November 1st. Ladenburg Thalmann Financial Services reaffirmed a buy rating on shares of Independence Realty Trust in a research report on Wednesday, November 1st. KeyCorp assumed coverage on Independence Realty Trust in a research report on Tuesday, December 5th. They set a sector weight rating for the company. Finally, Robert W. Baird reiterated a buy rating and set a $11.00 target price on shares of Independence Realty Trust in a research note on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $11.33.
Independence Realty Trust (NYSE:IRT) traded down $0.22 during midday trading on Tuesday, reaching $8.87. The company’s stock had a trading volume of 897,997 shares, compared to its average volume of 518,687. Independence Realty Trust has a 1-year low of $8.57 and a 1-year high of $10.63. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. The stock has a market cap of $740.81, a PE ratio of 12.15 and a beta of 0.90.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. increased its stake in Independence Realty Trust by 10.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 14,400 shares of the real estate investment trust’s stock worth $142,000 after acquiring an additional 1,400 shares during the last quarter. Virtu KCG Holdings LLC boosted its position in shares of Independence Realty Trust by 10.2% during the second quarter. Virtu KCG Holdings LLC now owns 20,492 shares of the real estate investment trust’s stock valued at $202,000 after buying an additional 1,900 shares during the period. Advisor Group Inc. raised its stake in Independence Realty Trust by 76.8% in the second quarter. Advisor Group Inc. now owns 10,251 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 4,454 shares in the last quarter. Piedmont Investment Advisors LLC raised its stake in Independence Realty Trust by 38.6% in the third quarter. Piedmont Investment Advisors LLC now owns 17,785 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 4,956 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Independence Realty Trust by 10.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 58,800 shares of the real estate investment trust’s stock worth $593,000 after buying an additional 5,500 shares in the last quarter. 78.57% of the stock is currently owned by institutional investors.
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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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