Independence Realty Trust (NYSE:IRT) Price Target Lowered to $20.00 at Barclays

Independence Realty Trust (NYSE:IRT - Get Free Report) had its price objective dropped by equities researchers at Barclays from $21.00 to $20.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the real estate investment trust's stock. Barclays's price target suggests a potential downside of 2.15% from the company's current price.

Several other research firms have also weighed in on IRT. BMO Capital Markets raised Independence Realty Trust from an "underperform" rating to a "market perform" rating and upped their price target for the company from $19.00 to $21.00 in a research report on Friday, November 15th. JMP Securities reissued a "market outperform" rating and set a $22.00 price target on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Independence Realty Trust currently has a consensus rating of "Moderate Buy" and an average target price of $21.33.

Independence Realty Trust Trading Down 1.5 %

Shares of Independence Realty Trust stock traded down $0.31 on Wednesday, reaching $20.44. 2,705,338 shares of the company were exchanged, compared to its average volume of 1,773,503. The stock has a fifty day moving average price of $19.70 and a 200-day moving average price of $20.13. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 113.56, a price-to-earnings-growth ratio of 2.89 and a beta of 1.21. Independence Realty Trust has a fifty-two week low of $14.35 and a fifty-two week high of $22.26.

Independence Realty Trust (NYSE:IRT - Get Free Report) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.24. Independence Realty Trust had a return on equity of 1.11% and a net margin of 6.15%. On average, equities analysts anticipate that Independence Realty Trust will post 1.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Blue Sky Capital Consultants Group Inc. purchased a new position in Independence Realty Trust in the fourth quarter valued at about $5,147,000. GF Fund Management CO. LTD. purchased a new position in Independence Realty Trust in the fourth quarter valued at about $83,000. GTS Securities LLC purchased a new position in Independence Realty Trust in the fourth quarter valued at about $325,000. Twinbeech Capital LP purchased a new position in Independence Realty Trust in the fourth quarter valued at about $883,000. Finally, State of Wyoming grew its stake in Independence Realty Trust by 49.2% in the fourth quarter. State of Wyoming now owns 4,355 shares of the real estate investment trust's stock valued at $86,000 after purchasing an additional 1,437 shares in the last quarter. Hedge funds and other institutional investors own 88.25% of the company's stock.

About Independence Realty Trust

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.