B. Riley reaffirmed their buy rating on shares of Independence Realty Trust, Inc. (NYSE:IRT) in a research report released on Wednesday.

Other research analysts also recently issued research reports about the stock. Ladenburg Thalmann Financial Services reaffirmed a buy rating and issued a $11.00 target price on shares of Independence Realty Trust in a research report on Friday, September 8th. Zacks Investment Research raised shares of Independence Realty Trust from a hold rating to a buy rating and set a $12.00 target price for the company in a research report on Monday, September 4th. BidaskClub raised shares of Independence Realty Trust from a hold rating to a buy rating in a research report on Saturday, August 12th. ValuEngine raised shares of Independence Realty Trust from a hold rating to a buy rating in a research report on Friday, September 1st. Finally, FBR & Co reaffirmed a buy rating and issued a $11.50 target price on shares of Independence Realty Trust in a research report on Tuesday, September 12th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $11.00.

Shares of Independence Realty Trust (IRT) traded down $0.10 during mid-day trading on Wednesday, hitting $10.39. 360,358 shares of the stock traded hands, compared to its average volume of 726,564. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.40 and a quick ratio of 0.30. Independence Realty Trust has a 52 week low of $7.74 and a 52 week high of $10.63. 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 (NYSE:IRT) last released its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.11. The business had revenue of $39.86 million during the quarter, compared to the consensus estimate of $40.38 million. Independence Realty Trust had a negative net margin of 10.91% and a negative return on equity of 3.08%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. sell-side analysts predict that Independence Realty Trust will post 0.74 earnings per share for the current fiscal year.

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The company also recently declared a monthly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 6.93%. The ex-dividend date of this dividend is Thursday, December 28th. Independence Realty Trust’s dividend payout ratio is currently -276.92%.

In other news, CEO Scott Schaeffer purchased 35,000 shares of the business’s stock in a transaction on Monday, August 7th. The stock was purchased at an average price of $10.12 per share, for a total transaction 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.58% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Parametric Portfolio Associates LLC lifted its stake in Independence Realty Trust by 0.4% in the first quarter. Parametric Portfolio Associates LLC now owns 69,887 shares of the real estate investment trust’s stock valued at $655,000 after acquiring an additional 261 shares during the last quarter. UBS Group AG lifted its stake in Independence Realty Trust by 0.6% in the first quarter. UBS Group AG now owns 67,706 shares of the real estate investment trust’s stock valued at $634,000 after acquiring an additional 384 shares during the last quarter. Kissinger Financial Services LLC lifted its stake in Independence Realty Trust by 1.0% in the second quarter. Kissinger Financial Services LLC now owns 94,825 shares of the real estate investment trust’s stock valued at $936,000 after acquiring an additional 925 shares during the last quarter. Bard Associates Inc. lifted its stake in Independence Realty Trust by 0.5% in the second quarter. Bard Associates Inc. now owns 189,725 shares of the real estate investment trust’s stock valued at $1,873,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Independence Realty Trust by 10.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 14,400 shares of the real estate investment trust’s stock valued at $142,000 after acquiring an additional 1,400 shares during the last quarter. Hedge funds and other institutional investors own 61.86% of the company’s stock.

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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