Independence Realty Trust (NYSE:IRT) PT Raised to $22.00 at JMP Securities

Independence Realty Trust (NYSE:IRT) had its price target raised by equities researchers at JMP Securities from $20.00 to $22.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “market outperform” rating on the real estate investment trust’s stock. JMP Securities’ price objective would suggest a potential upside of 8.40% from the company’s current price.

A number of other equities analysts have also commented on IRT. BTIG Research boosted their price objective on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 12th. KeyCorp boosted their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat, Independence Realty Trust presently has a consensus rating of “Moderate Buy” and an average target price of $19.57.

Independence Realty Trust Price Performance

Shares of IRT stock opened at $20.30 on Monday. Independence Realty Trust has a 12 month low of $11.61 and a 12 month high of $20.86. The firm has a market capitalization of $4.57 billion, a P/E ratio of -676.27, a P/E/G ratio of 2.89 and a beta of 1.17. The company’s fifty day moving average price is $19.42 and its two-hundred day moving average price is $17.52.

Institutional Investors Weigh In On Independence Realty Trust

Institutional investors have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC bought a new position in Independence Realty Trust in the 2nd quarter worth about $25,000. Pathway Financial Advisers LLC acquired a new stake in shares of Independence Realty Trust in the 1st quarter worth approximately $31,000. Lazard Asset Management LLC acquired a new stake in shares of Independence Realty Trust in the 1st quarter worth approximately $40,000. Advisors Asset Management Inc. lifted its stake in shares of Independence Realty Trust by 146.6% in the 1st quarter. Advisors Asset Management Inc. now owns 2,833 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 1,684 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Independence Realty Trust in the 2nd quarter worth approximately $64,000. Institutional investors own 88.25% 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 communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL.