Independence Realty Trust Short Interest Up 334.3% in May (IRT)
Independence Realty Trust (NYSE:IRT) was the recipient of a significant increase in short interest during the month of May. As of May 30th, there was short interest totalling 109,318 shares, an increase of 334.3% from the May 15th total of 25,172 shares, Stock Ratings News reports. Based on an average daily trading volume, of 64,027 shares, the days-to-cover ratio is currently 1.7 days. Currently, 1.0% of the shares of the company are short sold.
Several analysts have recently commented on the stock. Analysts at Ladenburg Thalmann raised their price target on shares of Independence Realty Trust from $0.25 to $9.75 in a research note on Thursday, May 29th. Separately, analysts at Deutsche Bank raised their price target on shares of Independence Realty Trust from $10.00 to $11.00 in a research note on Monday, May 12th. They now have a “positive” rating on the stock. Finally, analysts at Wunderlich initiated coverage on shares of Independence Realty Trust in a research note on Thursday, April 10th. They set a “buy” rating and a $9.75 price target on the stock. Five research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $10.10.
Independence Realty Trust (NYSE:IRT) traded down 0.33% during mid-day trading on Tuesday, hitting $9.05. 45,140 shares of the company’s stock traded hands. Independence Realty Trust has a 1-year low of $7.90 and a 1-year high of $9.23. The stock’s 50-day moving average is $9. and its 200-day moving average is $8.68.
Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. On average, analysts predict that Independence Realty Trust will post $0.80 earnings per share for the current fiscal year.
Independence Realty Trust, Inc is a real estate investment trust (NYSE:IRT).
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