Equities researchers at BTIG Exploration initiated coverage on shares of Independence Realty Belief (NYSE:IRT – Get Score) in a research report issued on Monday, TipRanks reports. The brokerage set a “buy” rating and a $27.00 price concentrate on on the genuine estate investment decision trust’s inventory. BTIG Research’s value goal would suggest a probable upside of 20.21% from the company’s earlier close.
Other equities analysts have also not long ago issued investigation experiences about the company. Royal Bank of Canada initiated coverage on Independence Realty Have confidence in in a report on Monday, January 10th. They issued an “outperform” rating and a $28.00 price goal for the organization. Barclays started off protection on shares of Independence Realty Rely on in a report on Tuesday, January 18th. They established an “overweight” rating and a $30.00 price tag goal for the corporation. KeyCorp boosted their price objective on shares of Independence Realty Belief from $27.00 to $29.00 and gave the stock an “overweight” score in a report on Friday, April 1st. Compass Point upgraded Independence Realty Rely on from a “neutral” rating to a “buy” score and lifted their target value for the corporation from $26.75 to $27.75 in a exploration observe on Monday, January 10th. Ultimately, Deutsche Financial institution Aktiengesellschaft boosted their price tag concentrate on on Independence Realty Have confidence in from $29.00 to $30.00 and gave the stock a “buy” score in a investigation note on Thursday, March 24th. A person research analyst has rated the inventory with a promote ranking, two have offered a hold rating and eleven have issued a acquire ranking to the business. In accordance to MarketBeat.com, the stock now has an ordinary score of “Buy” and a consensus goal selling price of $27.43.
NYSE:IRT traded down $.95 on Monday, hitting $22.46. 40,191 shares of the stock ended up exchanged, in contrast to its ordinary volume of 4,379,493. The stock has a fifty working day moving ordinary of $26.41 and a 200-working day transferring average of $24.92. The inventory has a industry cap of $4.97 billion, a PE ratio of 31.61, a PEG ratio of 11.23 and a beta of .87. Independence Realty Have faith in has a fifty-two 7 days lower of $15.62 and a fifty-two week significant of $28.42.
Independence Realty Belief (NYSE:IRT – Get Ranking) last posted its quarterly earnings effects on Tuesday, May possibly 3rd. The authentic estate investment have faith in described $.34 EPS for the quarter, beating the consensus estimate of $.25 by $.09. Independence Realty Belief experienced a net margin of 34.18% and a return on fairness of 5.34%. Throughout the exact period of time very last year, the enterprise acquired $.18 EPS. Investigation analysts anticipate that Independence Realty Have confidence in will publish 1.04 EPS for the existing yr.
Huge traders have recently purchased and marketed shares of the inventory. Patriot Economical Group Insurance Agency LLC bought a new posture in shares of Independence Realty Belief through the fourth quarter valued at $26,000. Financial commitment Study & Advisory Group Inc. acquired a new stake in Independence Realty Believe in in the initially quarter valued at around $26,000. Means Administration Corp CT ADV acquired a new stake in Independence Realty Have confidence in through the 4th quarter worthy of $27,000. Concentrated Wealth Administration Inc bought a new position in shares of Independence Realty Have faith in through the 1st quarter valued at about $27,000. Ultimately, Centre for Fiscal Scheduling Inc. obtained a new posture in shares of Independence Realty Have confidence in in the fourth quarter valued at approximately $29,000. Institutional buyers and hedge money possess 82.42% of the company’s stock.
About Independence Realty Belief (Get Ranking)
Independence Realty Trust, Inc (NYSE: IRT) is a genuine estate expenditure have faith in that owns and operates multifamily condominium attributes throughout non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT’s financial investment tactic is concentrated on getting scale inside of critical amenity prosperous submarkets that supply excellent school districts, superior-high-quality retail and important work centers.
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