Independence Realty Trust Inc (IRT) reported quarterly earnings results on Wednesday, May-4-2016. The company reported $0.21 EPS for the quarter. Analysts had a consensus estimate of $0.21. The company posted revenue of $38.70 million in the period, compared to analysts expectations of $39.17 million. The company’s revenue was up 78.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.
Many Wall Street Analysts have commented on Independence Realty Trust Inc. FBR Capital Initiated Independence Realty Trust Inc on Apr 7, 2016 to “Mkt Perform”, Price Target of the shares are set at $7.50.
Independence Realty Trust Inc opened for trading at $7.15 and hit $7.23 on the upside on Monday, eventually ending the session at $7.2, with a gain of 0.42% or 0.03 points. The heightened volatility saw the trading volume jump to 2,14,036 shares. Company has a market cap of $342 M.
In a different news, on Feb 25, 2016, Richard H Ross (director) sold 16,000 shares at $6.43 per share price. According to the SEC, on Nov 24, 2015, William C Dunkelberg (director) purchased 500 shares at $7.55 per share price. On Jun 16, 2015, Robert F Mccadden (director) purchased 2,000 shares at $8.40 per share price, according to the Form-4 filing with the securities and exchange commission.
Independence Realty Trust Inc. is a real estate investment trust (REIT). The Company owns and operates a portfolio of apartment properties located throughout the United States. The Company is managed by a subsidiary of RAIT Financial Trust (RAIT). AS of December 31 2014 The Company’s portfolio consisted of Belle Creek Copper Mill Crestmont Cumberland Glen Heritage Trace Tresa at Arrowhead Centrepoint Runaway Bay Berkshire Square The Crossings Reserve at Eagle Ridge Windrush Heritage Park Raindance Augusta Invitational King’s Landing Carrington Park Arbors at the Reservoir Walnut Hill Lenoxplace Stonebridge Bennington Pond Prospect Park Brookside Jamestown Meadows Oxmoor Stonebridge at the Ranch and Iron Rock Ranch.