Independence Realty Trust Inc (IRT) Given Average Rating of “Buy” by Brokerages

Shares of Independence Realty Trust Inc (NYSE:IRT) have been assigned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $11.25.

Several research firms have recently commented on IRT. B. Riley reissued a “buy” rating on shares of Independence Realty Trust in a research note on Wednesday, November 1st. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Independence Realty Trust in a research note on Wednesday, November 1st. ValuEngine upgraded shares of Independence Realty Trust from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. National Securities lifted their price target on shares of Independence Realty Trust from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 22nd. Finally, Zacks Investment Research downgraded shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th.

Independence Realty Trust (NYSE:IRT) traded up $0.04 during midday trading on Friday, hitting $8.61. 169,042 shares of the stock traded hands, compared to its average volume of 641,356. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. Independence Realty Trust has a twelve month low of $8.26 and a twelve month high of $10.63. The stock has a market capitalization of $715.75, a price-to-earnings ratio of -32.96 and a beta of 0.91.

Institutional investors have recently modified their holdings of the stock. Advisor Group Inc. lifted its stake in Independence Realty Trust by 76.8% in the second quarter. Advisor Group Inc. now owns 10,251 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 4,454 shares during the last quarter. Loeb Partners Corp purchased a new position in Independence Realty Trust in the third quarter worth approximately $102,000. Profund Advisors LLC purchased a new position in Independence Realty Trust in the second quarter worth approximately $103,000. SG Americas Securities LLC purchased a new position in Independence Realty Trust in the third quarter worth approximately $105,000. Finally, CIBC Asset Management Inc purchased a new position in Independence Realty Trust in the fourth quarter worth approximately $110,000. Institutional investors own 78.60% of the company’s stock.

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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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