Other research analysts have also recently issued research reports about the stock. KeyCorp reduced their price target on shares of Independence Realty Trust from $29.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, June 28th. Jefferies Financial Group reduced their price target on shares of Independence Realty Trust from $27.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, June 30th. BTIG Research assumed coverage on shares of Independence Realty Trust in a report on Monday, May 9th. They set a “buy” rating and a $27.00 target price for the company. Barclays reduced their target price on shares of Independence Realty Trust from $30.00 to $28.00 in a report on Tuesday, May 10th. Finally, Compass Point set a $24.50 price target on shares of Independence Realty Trust in a research note on Monday, June 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.72.
Independence Realty Trust Stock Performance
Shares of NYSE:IRT opened at $22.20 on Thursday. Independence Realty Trust has a 52 week low of $18.99 and a 52 week high of $28.42. The company has a market capitalization of $4.91 billion, a PE ratio of 31.27, a PEG ratio of 10.02 and a beta of 0.91. The company has a 50 day moving average price of $21.66 and a two-hundred day moving average price of $23.82.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. bought a new position in Independence Realty Trust during the 1st quarter worth approximately $26,000. Focused Wealth Management Inc bought a new position in Independence Realty Trust during the 1st quarter worth approximately $27,000. Resources Management Corp CT ADV bought a new position in Independence Realty Trust during the 4th quarter worth approximately $27,000. Center for Financial Planning Inc. bought a new position in Independence Realty Trust during the 4th quarter worth approximately $29,000. Finally, Fieldpoint Private Securities LLC raised its holdings in Independence Realty Trust by 85.3% during the 1st quarter. Fieldpoint Private Securities LLC now owns 1,195 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 550 shares during the last quarter. Institutional investors own 82.42% of the company’s stock.
Independence Realty Trust Company Profile
Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily apartment properties across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers.
- Get a free copy of the StockNews.com research report on Independence Realty Trust (IRT)
- MarketBeat: Week in Review 7/25 – 7/29
- Procter’s Earnings Start To Show Weakness In Q4
- The One Question You Have to Ask Before Investing in INTC Stock
- Home Depot: A Beautiful Boring Stock to Navigate a Bear Market
- Could CRISPR Therapeutics be a Moonshot Hiding in Plain Sight?
Receive News & Ratings for Independence Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independence Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.