Independence Realty Trust (NYSE:IRT - Get Free Report) had its price target decreased by equities research analysts at UBS Group from $24.00 to $21.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the real estate investment trust's stock. UBS Group's price target indicates a potential upside of 21.68% from the company's previous close.
A number of other analysts have also commented on IRT. JMP Securities reaffirmed a "market outperform" rating and issued a $25.00 price target on shares of Independence Realty Trust in a research note on Monday, May 5th. Barclays raised their price target on Independence Realty Trust from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Wells Fargo & Company started coverage on Independence Realty Trust in a research report on Wednesday, March 19th. They set an "overweight" rating and a $24.00 price objective for the company. Finally, Compass Point reissued a "neutral" rating and set a $22.00 price objective on shares of Independence Realty Trust in a research report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Independence Realty Trust presently has an average rating of "Moderate Buy" and an average target price of $22.40.
Check Out Our Latest Report on IRT
Independence Realty Trust Stock Performance
IRT stock traded up $0.16 on Tuesday, reaching $17.26. The company's stock had a trading volume of 1,311,808 shares, compared to its average volume of 2,034,614. The business has a fifty day simple moving average of $18.21 and a two-hundred day simple moving average of $19.27. Independence Realty Trust has a 12-month low of $17.05 and a 12-month high of $22.26. The firm has a market cap of $4.03 billion, a PE ratio of 123.54, a PEG ratio of 2.48 and a beta of 0.93.
Independence Realty Trust (NYSE:IRT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.01). Independence Realty Trust had a return on equity of 0.85% and a net margin of 4.70%. The business had revenue of $160.91 million during the quarter, compared to analysts' expectations of $164.08 million. During the same period in the previous year, the business earned $0.27 EPS. The business's revenue was up .4% compared to the same quarter last year. As a group, research analysts anticipate that Independence Realty Trust will post 1.19 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Independence Realty Trust
A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Independence Realty Trust by 17.9% during the 4th quarter. Wellington Management Group LLP now owns 13,398,947 shares of the real estate investment trust's stock valued at $265,835,000 after buying an additional 2,037,968 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Independence Realty Trust by 44.2% during the 1st quarter. Deutsche Bank AG now owns 4,876,816 shares of the real estate investment trust's stock valued at $103,535,000 after buying an additional 1,495,132 shares in the last quarter. Bamco Inc. NY lifted its position in shares of Independence Realty Trust by 592.0% during the 4th quarter. Bamco Inc. NY now owns 1,711,746 shares of the real estate investment trust's stock valued at $33,961,000 after buying an additional 1,464,400 shares in the last quarter. Nuveen LLC purchased a new position in shares of Independence Realty Trust during the 1st quarter valued at about $29,149,000. Finally, Cbre Investment Management Listed Real Assets LLC lifted its position in shares of Independence Realty Trust by 120.0% during the 1st 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 in the last quarter. 88.25% of the stock is currently owned by 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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