The stock of Independence Realty Trust Inc (NYSEMKT:IRT) is a huge mover today! The stock decreased 2.60% or $0.24 during the last trading session, hitting $9. Independence Realty Trust Inc (NYSEMKT:IRT) has risen 39.97% since February 29, 2016 and is uptrending. It has outperformed by 29.54% the S&P500.
The move comes after 6 months negative chart setup for the $432.99M company. It was reported on Oct, 1 by Barchart.com. We have $7.74 PT which if reached, will make NYSEMKT:IRT worth $60.62 million less.
Analysts await Independence Realty Trust Inc (NYSEMKT:IRT) to report earnings on November, 4. They expect $0.22 EPS, up 10.00% or $0.02 from last year’s $0.2 per share. IRT’s profit will be $10.58M for 10.23 P/E if the $0.22 EPS becomes a reality. After $0.22 actual EPS reported by Independence Realty Trust Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
Independence Realty Trust Inc (NYSEMKT:IRT) Ratings Coverage
Out of 3 analysts covering Independence Realty Trust (NYSEMKT:IRT), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Independence Realty Trust has been the topic of 4 analyst reports since July 30, 2015 according to StockzIntelligence Inc. On Thursday, July 30 the stock rating was maintained by Wunderlich with “Buy”. The rating was reinitiated by Deutsche Bank on Monday, September 28 with “Hold”. The firm has “Buy” rating given on Monday, November 2 by Compass Point.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment decreased to 1.66 in 2016 Q2. Its down 0.53, from 2.19 in 2016Q1. The ratio fall, as 12 funds sold all Independence Realty Trust Inc shares owned while 20 reduced positions. 12 funds bought stakes while 41 increased positions. They now own 20.87 million shares or 6.21% less from 22.25 million shares in 2016Q1.
The Texas-based Highland Capital Mgmt L P has invested 0.8% in Independence Realty Trust Inc (NYSEMKT:IRT). State Street accumulated 784,992 shares or 0% of the stock. Orinda Asset Mgmt Ltd accumulated 3.24% or 411,035 shares. Teachers Advsrs Incorporated holds 0% or 61,628 shares in its portfolio. Nomura Asset Management Ltd holds 0% or 19,085 shares in its portfolio. Teachers Annuity Association Of America, a New York-based fund reported 32,461 shares. Mizuho Tru Banking Ltd last reported 0% of its portfolio in the stock. Shinko Asset Management Commerce last reported 1,200 shares in the company. The British Columbia – Canada-based Connor Clark & Lunn Investment Management has invested 0% in Independence Realty Trust Inc (NYSEMKT:IRT). Blackrock Advsrs Limited Company accumulated 0% or 21,852 shares. Blackrock Llc accumulated 175,322 shares or 0% of the stock. Emerald Mutual Fund Advisers Trust last reported 92,800 shares in the company. Blackrock Japan reported 1,709 shares or 0% of all its holdings. Guggenheim Capital Lc holds 70,882 shares or 0% of its portfolio. Victory Mngmt Inc last reported 0% of its portfolio in the stock.
More notable recent Independence Realty Trust Inc (NYSEMKT:IRT) news were published by: Businesswire.com which released: “Independence Realty Trust, Inc. Prices Public Offering of Common Stock” on September 29, 2016, also Businesswire.com with their article: “RAIT Announces Agreement with Independence Realty Trust to Internalize …” published on September 27, 2016, Businesswire.com published: “Independence Realty Trust Completes Acquisition of Trade Street Residential” on September 17, 2015. More interesting news about Independence Realty Trust Inc (NYSEMKT:IRT) were released by: Nasdaq.com and their article: “Independence Realty Trust, Inc. (IRT) Ex-Dividend Date Scheduled for September …” published on September 27, 2016 as well as Finance.Yahoo.com‘s news article titled: “The Zacks Analyst Blog Highlights: Independence Realty Trust, HCP, Omega …” with publication date: September 07, 2016.
IRT Company Profile
Independence Realty Trust, Inc., incorporated on March 26, 2009, is an externally managed and advised apartment real estate investment trust (REIT). The Company’s business consists of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of real estate assets. It owns and operates a portfolio of garden style and mid-rise apartment communities in the Southeastern United States. The Company’s portfolio consists of approximately 50 apartment properties containing an aggregate of over 13,700 apartment units. The Company’s portfolio has an average occupancy of approximately 93.6%. The Firm conducts its business through a traditional umbrella partnership REIT (UPREIT) structure in which its properties are owned by its operating partnership, Independence Realty Operating Partnership, LP (IROP), directly or through subsidiaries. The Firm is the sole general partner of IROP.
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