Independence Realty Trust (NYSE:IRT) has been given a consensus rating of “Hold” by the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $11.00.
Several research firms recently weighed in on IRT. ValuEngine downgraded Independence Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. B. Riley cut their price objective on Independence Realty Trust from $11.50 to $11.00 and set a “buy” rating on the stock in a report on Thursday, April 26th. Robert W. Baird set a $10.00 price objective on Independence Realty Trust and gave the company a “buy” rating in a report on Friday, March 2nd. Finally, Zacks Investment Research downgraded Independence Realty Trust from a “hold” rating to a “strong sell” rating in a report on Thursday, January 25th.
Shares of IRT stock traded up $0.21 during trading hours on Monday, reaching $9.40. The company’s stock had a trading volume of 393,439 shares, compared to its average volume of 604,288. The company has a market cap of $799.28 million, a PE ratio of 12.88 and a beta of 0.86. Independence Realty Trust has a fifty-two week low of $8.26 and a fifty-two week high of $10.63. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.29 and a current ratio of 0.29.
Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data on Wednesday, April 25th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.14). Independence Realty Trust had a net margin of 17.65% and a return on equity of 4.82%. The firm had revenue of $45.62 million for the quarter, compared to analyst estimates of $44.29 million. equities analysts predict that Independence Realty Trust will post 0.75 EPS for the current fiscal year.
In other news, CEO Scott Schaeffer acquired 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were bought at an average price of $8.33 per share, with a total value of $124,950.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in IRT. Aperio Group LLC acquired a new position in Independence Realty Trust during the 1st quarter worth about $104,000. CIBC Asset Management Inc acquired a new position in Independence Realty Trust during the 4th quarter worth about $110,000. Oppenheimer & Co. Inc. acquired a new position in Independence Realty Trust during the 1st quarter worth about $111,000. Amalgamated Bank acquired a new position in Independence Realty Trust during the 4th quarter worth about $121,000. Finally, Royal Bank of Canada lifted its holdings in Independence Realty Trust by 70.9% during the 1st quarter. Royal Bank of Canada now owns 14,522 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 6,027 shares during the period. 79.02% of the stock is currently owned by hedge funds and other institutional investors.
Independence Realty Trust Company Profile
Independence Realty Trust (NYSE: IRT) is a real estate investment trust that owns and operates 55 multifamily apartment properties, totaling 15,045 units, across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers.
Receive News & Ratings for Independence Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independence Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.