Independence Realty Trust Sees Significant Decline in Short Interest (IRT)
Independence Realty Trust (NYSE:IRT) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 58,560 shares, a decrease of 73.1% from the July 15th total of 217,563 shares, StockRatingsNetwork reports. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 901,892 shares, the days-to-cover ratio is presently 0.1 days.
A number of research firms have recently commented on IRT. Analysts at Wunderlich raised their price target on shares of Independence Realty Trust from $9.75 to $10.75 in a research note on Monday, August 4th. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Independence Realty Trust in a research note on Tuesday, July 29th. They now have a $11.00 price target on the stock. Finally, analysts at Compass Point reiterated a “buy” rating on shares of Independence Realty Trust in a research note on Tuesday, July 29th. They now have a $11.50 price target on the stock, up previously from $10.50. Five analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $10.70.
Independence Realty Trust (NYSE:IRT) opened at 9.90 on Wednesday. Independence Realty Trust has a 52-week low of $7.95 and a 52-week high of $10.84. The stock’s 50-day moving average is $9.82 and its 200-day moving average is $9.07.
Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.01. The company had revenue of $11.60 million for the quarter, compared to the consensus estimate of $11.95 million. On average, analysts predict that Independence Realty Trust will post $0.75 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which is scheduled for Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 7.31%. The ex-dividend date is Friday, September 26th.
Independence Realty Trust, Inc, is a real estate investment trust (NYSE:IRT).
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