Independence Realty Trust Inc (NYSE:IRT) has received an average rating of “Buy” from the ten ratings firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $11.25.

Several research analysts have recently issued reports on the stock. Robert W. Baird reiterated a “buy” rating and issued a $11.00 price objective on shares of Independence Realty Trust in a report on Tuesday, October 17th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Independence Realty Trust in a report on Wednesday, November 1st. B. Riley reiterated a “buy” rating on shares of Independence Realty Trust in a report on Wednesday, November 1st. Zacks Investment Research cut shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Finally, National Securities increased their price objective on shares of Independence Realty Trust from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, November 22nd.

Independence Realty Trust (NYSE:IRT) traded down $0.19 during midday trading on Tuesday, reaching $9.50. 750,400 shares of the company’s stock traded hands, compared to its average volume of 560,911. Independence Realty Trust has a 1 year low of $8.57 and a 1 year high of $10.63. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. The company has a market cap of $793.43, a PE ratio of -36.54 and a beta of 1.08.

Independence Realty Trust (NYSE:IRT) last posted its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, topping the 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 firm had revenue of $39.86 million during the quarter, compared to analysts’ expectations of $40.38 million. During the same quarter in the prior year, the firm earned $0.21 EPS. Independence Realty Trust’s quarterly revenue was up 1.1% on a year-over-year basis. equities research analysts anticipate that Independence Realty Trust will post 0.74 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its holdings in Independence Realty Trust by 10.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 58,800 shares of the real estate investment trust’s stock worth $593,000 after buying an additional 5,500 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Independence Realty Trust by 40.2% during the third quarter. Public Employees Retirement System of Ohio now owns 92,003 shares of the real estate investment trust’s stock worth $936,000 after buying an additional 26,391 shares in the last quarter. Sterling Capital Management LLC bought a new stake in Independence Realty Trust during the third quarter worth approximately $852,000. PVG Asset Management Corp boosted its holdings in Independence Realty Trust by 34.6% during the third quarter. PVG Asset Management Corp now owns 178,968 shares of the real estate investment trust’s stock worth $1,820,000 after buying an additional 46,054 shares in the last quarter. Finally, Piedmont Investment Advisors LLC boosted its holdings in Independence Realty Trust by 38.6% during the third quarter. Piedmont Investment Advisors LLC now owns 17,785 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 4,956 shares in the last quarter. Hedge funds and other institutional investors own 78.49% of the company’s stock.

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About Independence Realty Trust

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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