Independence Realty Trust Inc (IRT) Receives Average Rating of “Buy” from Brokerages

Shares of Independence Realty Trust Inc (NYSE:IRT) have been assigned an average recommendation of “Buy” from the ten ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $11.25.

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

Independence Realty Trust (NYSE IRT) traded up $0.13 on Friday, hitting $8.50. 825,809 shares of the stock were exchanged, compared to its average volume of 654,291. Independence Realty Trust has a one year low of $8.26 and a one 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 firm has a market cap of $699.05, a P/E ratio of -32.69 and a beta of 0.90.

A number of large investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. boosted its position in Independence Realty Trust by 10.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 14,400 shares of the real estate investment trust’s stock worth $142,000 after buying an additional 1,400 shares during the period. Virtu KCG Holdings LLC lifted its position in shares of Independence Realty Trust by 10.2% in the 2nd quarter. Virtu KCG Holdings LLC now owns 20,492 shares of the real estate investment trust’s stock worth $202,000 after purchasing an additional 1,900 shares during the period. Advisor Group Inc. lifted its position in shares of Independence Realty Trust by 76.8% in the 2nd 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 during the period. Piedmont Investment Advisors LLC lifted its position in shares of Independence Realty Trust by 38.6% in the 3rd quarter. Piedmont Investment Advisors LLC now owns 17,785 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 4,956 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in shares of Independence Realty Trust by 10.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 58,800 shares of the real estate investment trust’s stock worth $593,000 after purchasing an additional 5,500 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2018/02/10/independence-realty-trust-inc-irt-receives-average-rating-of-buy-from-brokerages.html.

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)

Receive News & Ratings for Independence Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independence Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply