Independence Realty Trust Upgraded to Outperform by Zacks (IRT)
Independence Realty Trust (NYSE:IRT) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday. The firm currently has a $10.80 price target on the stock. Zacks‘s price objective would suggest a potential upside of 8.00% from the company’s current price.
Several other analysts have also recently commented on the stock. 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. Six equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average price target of $10.72.
Shares of Independence Realty Trust (NYSE:IRT) traded up 1.50% on Monday, hitting $10.15. 304,506 shares of the company’s stock traded hands. Independence Realty Trust has a one year low of $7.95 and a one year high of $10.84. The stock’s 50-day moving average is $9.89 and its 200-day moving average is $9.10.
Independence Realty Trust (NYSE:IRT) last announced its earnings results on Friday, August 1st. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters 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 $0.72 earnings per share for the current fiscal year.
The company also recently declared a monthly dividend, which is scheduled for Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date of this dividend is Friday, September 26th.
Independence Realty Trust, Inc, is a real estate investment trust (NYSE:IRT).
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