Investment Analysts’ Recent Ratings Changes for Independence Realty Trust (IRT)

A number of research firms have changed their ratings and price targets for Independence Realty Trust (NYSE: IRT):

  • 7/20/2017 – Independence Realty Trust was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 7/18/2017 – Independence Realty Trust was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $11.00 price target on the stock. According to Zacks, “Independence Realty Trust, Inc. is a real estate investment trust. It is focused on acquiring and owning well-located garden-style and mid-rise apartment properties. The Company owns apartment properties primarily in Arizona, Colorado, Georgia, Indiana, Texas and Virginia. Independence Realty Trust, Inc. is based in United States. “
  • 7/12/2017 – Independence Realty Trust was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Independence Realty Trust, Inc. is a real estate investment trust. It is focused on acquiring and owning well-located garden-style and mid-rise apartment properties. The Company owns apartment properties primarily in Arizona, Colorado, Georgia, Indiana, Texas and Virginia. Independence Realty Trust, Inc. is based in United States. “
  • 7/11/2017 – Independence Realty Trust had its “outperform” rating reaffirmed by analysts at FBR & Co. They now have a $10.75 price target on the stock.
  • 6/30/2017 – Independence Realty Trust had its “outperform” rating reaffirmed by analysts at JMP Securities. They now have a $11.50 price target on the stock, up previously from $10.50.
  • 6/15/2017 – Independence Realty Trust was upgraded by analysts at FBR & Co from a “market perform” rating to an “outperform” rating. They now have a $11.50 price target on the stock, up previously from $9.75.

Independence Realty Trust Inc (NYSE IRT) opened at 10.21 on Tuesday. Independence Realty Trust Inc has a 52 week low of $7.74 and a 52 week high of $10.70. The company’s 50-day moving average price is $9.96 and its 200 day moving average price is $9.40. The company’s market capitalization is $702.64 million.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $38.90 million for the quarter, compared to analysts’ expectations of $38.53 million. Independence Realty Trust had a return on equity of 3.25% and a net margin of 10.85%. During the same period in the previous year, the business posted $0.21 earnings per share. On average, equities research analysts anticipate that Independence Realty Trust Inc will post $0.35 EPS for the current year.

The business also recently declared a monthly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 7.05%. The ex-dividend date is Thursday, July 27th.

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.

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