Independence Realty Trust, Inc. (NYSE:IRT)‘s stock had its “buy” rating restated by equities research analysts at Ladenburg Thalmann Financial Services in a note issued to investors on Wednesday.

IRT has been the subject of a number of other reports. Zacks Investment Research lowered Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, April 19th. ValuEngine lowered Independence Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. FBR & Co raised Independence Realty Trust from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $9.75 to $11.50 in a research note on Thursday, June 15th. Finally, JMP Securities reissued an “outperform” rating and set a $11.50 price target (up from $10.50) on shares of Independence Realty Trust in a research note on Friday, June 30th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Independence Realty Trust has an average rating of “Buy” and an average price target of $10.45.

Independence Realty Trust (IRT) traded up 0.951% during trading on Wednesday, hitting $10.085. The stock had a trading volume of 225,200 shares. The stock has a 50 day moving average price of $9.99 and a 200-day moving average price of $9.45. The stock’s market cap is $694.17 million. Independence Realty Trust has a 12 month low of $7.74 and a 12 month high of $10.70.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. Independence Realty Trust had a negative return on equity of 3.22% and a negative net margin of 10.28%. The firm had revenue of $39.43 million during the quarter, compared to analyst estimates of $39.43 million. During the same period last year, the company earned $0.22 EPS. Independence Realty Trust’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts predict that Independence Realty Trust will post $0.31 EPS for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRT. State Street Corp increased its position in Independence Realty Trust by 39.7% in the fourth quarter. State Street Corp now owns 1,851,044 shares of the real estate investment trust’s stock valued at $16,515,000 after buying an additional 526,231 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Independence Realty Trust by 67.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 403,300 shares of the real estate investment trust’s stock valued at $3,597,000 after buying an additional 162,998 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in Independence Realty Trust by 37.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 43,649 shares of the real estate investment trust’s stock valued at $389,000 after buying an additional 11,898 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new position in Independence Realty Trust during the fourth quarter valued at approximately $103,000. Finally, Teachers Advisors LLC increased its position in Independence Realty Trust by 51.3% in the fourth quarter. Teachers Advisors LLC now owns 104,770 shares of the real estate investment trust’s stock valued at $935,000 after buying an additional 35,543 shares during the last quarter. Institutional investors own 70.18% of the company’s stock.

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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