Shares of Independence Realty Trust Inc (NYSE:IRT) have received a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $11.25.

IRT has been the topic of a number of research analyst reports. B. Riley reaffirmed a “buy” rating on shares of Independence Realty Trust in a research report on Wednesday, November 1st. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Independence Realty Trust in a research report on Wednesday, November 1st. Robert W. Baird reaffirmed a “buy” rating and set a $11.00 price objective on shares of Independence Realty Trust in a research report on Tuesday, October 17th. Zacks Investment Research raised shares of Independence Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, National Securities boosted 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.

Shares of Independence Realty Trust (IRT) traded up $0.01 on Tuesday, reaching $9.35. 866,515 shares of the company were exchanged, compared to its average volume of 431,547. Independence Realty Trust has a 52-week low of $8.57 and a 52-week high of $10.63. The stock has a market capitalization of $780.90, a P/E ratio of 12.81 and a beta of 1.06. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.40 and a quick ratio of 0.40.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to the consensus estimate of $40.38 million. During the same period in the previous year, the firm posted $0.21 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. equities analysts predict that Independence Realty Trust will post 0.74 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the business. Virtu KCG Holdings LLC grew its position in Independence Realty Trust by 10.2% in the second quarter. Virtu KCG Holdings LLC now owns 20,492 shares of the real estate investment trust’s stock worth $202,000 after acquiring an additional 1,900 shares in the last quarter. JPMorgan Chase & Co. grew its position in Independence Realty Trust by 283.7% in the third quarter. JPMorgan Chase & Co. now owns 403,883 shares of the real estate investment trust’s stock worth $4,083,000 after acquiring an additional 298,632 shares in the last quarter. Asset Management One Co. Ltd. grew its position in Independence Realty Trust by 31.1% in the third quarter. Asset Management One Co. Ltd. now owns 168,056 shares of the real estate investment trust’s stock worth $1,700,000 after acquiring an additional 39,886 shares in the last quarter. Citigroup Inc. grew its position in Independence Realty Trust by 1,367.4% in the second quarter. Citigroup Inc. now owns 60,589 shares of the real estate investment trust’s stock worth $598,000 after acquiring an additional 56,460 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its position in Independence Realty Trust by 85.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 26,020 shares of the real estate investment trust’s stock worth $265,000 after acquiring an additional 12,000 shares in the last quarter. 78.49% of the stock is owned by institutional investors.

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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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