Economy

Independence Realty Trust, Inc. (NYSE:IRT) Experiences Heavier than Usual Trading Volume

IRT has been the subject of a number of other research reports.

Analysts look for public financial statements, listen in on conference calls and talk to managers and customers of a company in order to reach an opinion and communicate the value of a stock. BidaskClub lowered shares of Independence Realty Trust from a buy rating to a hold rating in a research note on Thursday, August 24th.

Company shares are trading at $10.31 which is marginally higher than $10.14, the stock's 50 day moving average and just a bit higher than the 200 day moving average of $9.67. Additionally the company recently announced a dividend for shareholders payable on Friday October 13th, 2017. UBS AG raised United Dominion Realty Trust from a "neutral" rating to a "buy" rating and boosted their target price for the company from $39.00 to $43.00 in a research note on Friday, September 8th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating on the company.

According to Financial Times, The 10 analysts offering 12 month price targets for Gentex Corporation have a median target of 22.00, with a high estimate of 25.00 and a low estimate of 10.00. Independence Realty Trust had a negative net margin of 10.28% and a negative return on equity of 3.22%. The stock touched 52-week High of $10.70 on 09/26/16 and 52-week Low of $7.74 on 11/04/16. The stock recorded a rise in short interest between August 15, 2017 and August 31, 2017 of 33.66%. Ameriprise Financial Inc. now owns 322,564 shares of the real estate investment trust's stock worth $3,184,000 after buying an additional 311,700 shares during the period.

Independence Realty Trust (NYSE:IRT) last released its earnings results on Thursday, February 16th. This represents the Zacks consensus EPS measured at the time of writing. On average, equities analysts predict that Independence Realty Trust will post $0.27 EPS for the current year. Empyrean Capital Partners LP acquired a new stake in Independence Realty Trust during the third quarter valued at about $23,625,000. The company had revenue of $247.97 million during the quarter, compared to analyst estimates of $244.17 million. The analysts estimated EPS for the higher end at 0.15 and lower end at 0.05 while the year ago reported earnings per share was 0.03. If you are accessing this news story on another website, it was copied illegally and republished in violation of USA & worldwide copyright legislation. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of worldwide copyright legislation.

The Altman Z-score is the output of a credit-strength test that gauges a publicly traded manufacturing company's likelihood of bankruptcy. 1 analysts recommended Overweight these shares while 0 recommended Underweight, according to FactSet data. Now it is offering a dividend yield of 0.00% and a 5 year dividend growth rate of 0.00%. The ex-dividend date is set for Tuesday the 29th of August 2017.

In related news, CEO Scott Schaeffer purchased 35,000 shares of the business's stock in a transaction on Monday, August 7th. The total value of its holdings increased 7.7%. The portion of a company's profit allocated to each outstanding share of common stock was $1.7 a share in the trailing twelve months. The transaction was disclosed in a filing with the SEC, which is available at this link. It dived, as 25 investors sold IRT shares while 25 reduced holdings.

Analysts on average have given a price target of $10.93 to Independence Realty Trust, Inc. Oppenheimer Asset Management Inc. now owns 10,153 shares of the real estate investment trust's stock worth $100,000 after buying an additional 6,056 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of United Dominion Realty Trust by 3.3% during the 1st quarter. Profund Advisors LLC purchased a new position in shares of Independence Realty Trust in the 2nd quarter worth about $103,000. State Street Corp boosted its stake in Independence Realty Trust by 39.7% in the fourth quarter. As of quarter end Perigon Wealth Management, LLC had acquired 4,000 shares growing its position 51.9%.

Independence Realty Trust, Inc is an internally-managed 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. The Company owns apartment properties primarily in Arizona, Colorado, Georgia, Indiana, Texas and Virginia.



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