Independence Realty Trust (NYSE:IRT - Get Free Report) had its target price cut by equities researchers at Barclays from $22.00 to $20.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the real estate investment trust's stock. Barclays's target price points to a potential upside of 16.50% from the company's previous close.
Several other equities analysts also recently commented on the company. Compass Point raised Independence Realty Trust from a "neutral" rating to a "buy" rating and upped their price objective for the company from $22.00 to $24.00 in a research report on Thursday, July 31st. UBS Group cut their price target on shares of Independence Realty Trust from $24.00 to $21.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. Wall Street Zen raised shares of Independence Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, JMP Securities reissued a "market outperform" rating and issued a $25.00 price objective on shares of Independence Realty Trust in a research report on Monday, May 5th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Independence Realty Trust presently has an average rating of "Moderate Buy" and a consensus target price of $22.40.
View Our Latest Stock Analysis on IRT
Independence Realty Trust Stock Down 0.4%
Shares of IRT opened at $17.17 on Tuesday. The business has a fifty day moving average of $17.61 and a 200 day moving average of $19.02. The company has a market cap of $4.01 billion, a PE ratio of 142.80, a P/E/G ratio of 2.37 and a beta of 0.94. Independence Realty Trust has a 52-week low of $16.59 and a 52-week high of $22.26.
Independence Realty Trust (NYSE:IRT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.28 earnings per share for the quarter, hitting analysts' consensus estimates of $0.28. Independence Realty Trust had a net margin of 4.31% and a return on equity of 0.78%. The company had revenue of $161.89 million for the quarter, compared to analyst estimates of $164.78 million. During the same period in the prior year, the company posted $0.28 EPS. As a group, research analysts anticipate that Independence Realty Trust will post 1.19 earnings per share for the current fiscal year.
Institutional Trading of Independence Realty Trust
Several hedge funds have recently modified their holdings of IRT. Deutsche Bank AG lifted its position in Independence Realty Trust by 44.2% during the first quarter. Deutsche Bank AG now owns 4,876,816 shares of the real estate investment trust's stock valued at $103,535,000 after acquiring an additional 1,495,132 shares during the last quarter. Bamco Inc. NY raised its holdings in shares of Independence Realty Trust by 592.0% in the fourth quarter. Bamco Inc. NY now owns 1,711,746 shares of the real estate investment trust's stock worth $33,961,000 after buying an additional 1,464,400 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Independence Realty Trust during the first quarter worth $29,149,000. Cbre Investment Management Listed Real Assets LLC grew its holdings in shares of Independence Realty Trust by 120.0% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,233,851 shares of the real estate investment trust's stock valued at $47,425,000 after buying an additional 1,218,559 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in shares of Independence Realty Trust in the 1st quarter valued at $23,829,000. 88.25% of the stock is owned by hedge funds and other institutional investors.
Independence Realty Trust Company Profile
(
Get Free Report)
Independence Realty Trust, Inc NYSE: IRT is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL.
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