Investment analysts at KeyCorp started coverage on shares of Independence Realty Trust (NYSE:IRT) in a report released on Tuesday. The firm set a “sector weight” rating on the real estate investment trust’s stock.

IRT has been the subject of a number of other research reports. Zacks Investment Research cut Independence Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Independence Realty Trust in a research note on Wednesday, November 1st. National Securities boosted their price target on Independence Realty Trust from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 22nd. BidaskClub cut Independence Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Finally, Robert W. Baird restated a “buy” rating and issued a $11.00 price target on shares of Independence Realty Trust in a research note on Tuesday, October 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $11.33.

Independence Realty Trust (NYSE IRT) opened at $10.13 on Tuesday. The stock has a market capitalization of $846.88, a price-to-earnings ratio of 13.89 and a beta of 1.06. Independence Realty Trust has a one year low of $8.44 and a one year high of $10.63. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current 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 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.11. The business had revenue of $39.86 million during the quarter, compared to analysts’ expectations of $40.38 million. Independence Realty Trust had a negative return on equity of 3.08% and a negative net margin of 10.91%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 earnings per share. equities research analysts forecast that Independence Realty Trust will post 0.74 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of IRT. Vanguard Group Inc. increased its position in Independence Realty Trust by 2.5% during the second quarter. Vanguard Group Inc. now owns 8,145,938 shares of the real estate investment trust’s stock valued at $80,401,000 after acquiring an additional 201,984 shares during the last quarter. Alliancebernstein L.P. increased its position in Independence Realty Trust by 3.3% during the second quarter. Alliancebernstein L.P. now owns 4,208,515 shares of the real estate investment trust’s stock valued at $41,538,000 after acquiring an additional 132,990 shares during the last quarter. State Street Corp increased its position in Independence Realty Trust by 20.2% during the second quarter. State Street Corp now owns 2,226,547 shares of the real estate investment trust’s stock valued at $21,979,000 after acquiring an additional 373,485 shares during the last quarter. Principal Financial Group Inc. increased its position in Independence Realty Trust by 93.7% during the third quarter. Principal Financial Group Inc. now owns 2,121,772 shares of the real estate investment trust’s stock valued at $21,578,000 after acquiring an additional 1,026,415 shares during the last quarter. Finally, LSV Asset Management increased its position in Independence Realty Trust by 6.5% during the second quarter. LSV Asset Management now owns 1,769,897 shares of the real estate investment trust’s stock valued at $17,468,000 after acquiring an additional 107,300 shares during the last quarter. Hedge funds and other institutional investors own 78.66% of the company’s stock.

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Independence Realty Trust Company Profile

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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