Independence Realty Trust Inc (IRT) Receives $11.25 Average Price Target from Analysts

Shares of Independence Realty Trust Inc (NYSE:IRT) have earned an average recommendation of “Buy” from the ten research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $11.25.

A number of equities analysts recently weighed in on IRT shares. Robert W. Baird reissued a “buy” rating and set a $11.00 target price on shares of Independence Realty Trust in a research note on Tuesday, October 17th. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Independence Realty Trust in a research note on Wednesday, November 1st. B. Riley reissued a “buy” rating on shares of Independence Realty Trust in a research note on Wednesday, November 1st. Zacks Investment Research downgraded shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Finally, National Securities lifted their target price on shares of Independence Realty Trust from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 22nd.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Independence Realty Trust by 11.0% during the fourth quarter. BlackRock Inc. now owns 12,188,828 shares of the real estate investment trust’s stock worth $122,984,000 after buying an additional 1,206,269 shares during the last quarter. Vanguard Group Inc. increased its stake in Independence Realty Trust by 2.5% in the second quarter. Vanguard Group Inc. now owns 8,145,938 shares of the real estate investment trust’s stock valued at $80,401,000 after purchasing an additional 201,984 shares in the last quarter. State Street Corp increased its stake in Independence Realty Trust by 20.2% in the second quarter. State Street Corp now owns 2,226,547 shares of the real estate investment trust’s stock valued at $21,979,000 after purchasing an additional 373,485 shares in the last quarter. Principal Financial Group Inc. increased its stake in Independence Realty Trust by 93.7% in the third quarter. Principal Financial Group Inc. now owns 2,121,772 shares of the real estate investment trust’s stock valued at $21,578,000 after purchasing an additional 1,026,415 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in Independence Realty Trust by 25.9% in the fourth quarter. Jennison Associates LLC now owns 1,573,435 shares of the real estate investment trust’s stock valued at $15,876,000 after purchasing an additional 323,435 shares in the last quarter. 78.60% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust (NYSE IRT) opened at $8.65 on Friday. The stock has a market cap of $709.91, a price-to-earnings ratio of 11.64 and a beta of 0.90. Independence Realty Trust has a 52 week low of $8.26 and a 52 week 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.

Analyst Recommendations for Independence Realty Trust (NYSE:IRT)

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