Independence Realty Trust, Inc. (NYSE:IRT)‘s stock had its “buy” rating restated by stock analysts at B. Riley in a research report issued on Wednesday.

Several other research firms also recently weighed in on IRT. BidaskClub upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Independence Realty Trust in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of Independence Realty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. FBR & Co reiterated a “buy” rating and issued a $11.50 price target on shares of Independence Realty Trust in a research report on Tuesday, September 12th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $11.00 price target on shares of Independence Realty Trust in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $11.00.

Shares of Independence Realty Trust (NYSE:IRT) traded down $0.10 during trading on Wednesday, reaching $10.39. 360,358 shares of the company were exchanged, compared to its average volume of 726,564. The company has a market capitalization of $867.76, a P/E ratio of 14.37 and a beta of 1.08. Independence Realty Trust has a 12 month low of $7.74 and a 12 month high of $10.63. The company has a current ratio of 0.40, a quick ratio of 0.30 and a debt-to-equity ratio of 1.14.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.11. Independence Realty Trust had a negative net margin of 10.91% and a negative return on equity of 3.08%. The business had revenue of $39.86 million for the quarter, compared to the consensus estimate of $40.38 million. During the same period last year, the firm earned $0.21 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. equities research analysts predict that Independence Realty Trust will post 0.74 earnings per share for the current fiscal year.

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In other news, CEO Scott Schaeffer acquired 35,000 shares of Independence Realty Trust stock in a transaction dated Monday, August 7th. The stock was purchased at an average cost of $10.12 per share, with a total value of $354,200.00. Following the completion of the purchase, the chief executive officer now directly owns 155,306 shares in the company, valued at approximately $1,571,696.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its stake in shares of Independence Realty Trust by 147.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,153 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 6,056 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of Independence Realty Trust in the first quarter worth $102,000. Advisor Group Inc. increased its stake in shares of Independence Realty Trust by 76.8% in the second quarter. Advisor Group Inc. now owns 10,251 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 4,454 shares in the last quarter. Loeb Partners Corp purchased a new stake in shares of Independence Realty Trust in the third quarter worth $102,000. Finally, Profund Advisors LLC purchased a new stake in shares of Independence Realty Trust in the second quarter worth $103,000. 61.86% of the stock is owned by hedge funds and other institutional investors.

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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