Independence Realty Trust Inc (IRT) is Reiterated by FBR Capital to Mkt Perform, Raises Price Target to $ 9.50

Independence Realty Trust Inc (IRT) was Reiterated by FBR Capital to “Mkt Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 9.50 from a previous price target of $8 . FBR Capital advised their investors in a research report released on Aug 4, 2016.

On the company’s financial health, Independence Realty Trust Inc reported $0.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.21. The company had revenue of $38.27 million for the quarter, compared to analysts expectations of $38.68 million. The company’s revenue was up 68.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

Independence Realty Trust Inc closed down -0.15 points or -1.69% at $8.71 with 2,46,787 shares getting traded on Tusday. Post opening the session at $8.83, the shares hit an intraday low of $8.7 and an intraday high of $8.94 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on May 18, 2016, Sharon M. Tsao (director) purchased 1,000 shares at $7.75 per share price. According to the SEC, on May 18, 2016, Scott Schaeffer (CEO) purchased 12,000 shares at $7.68 per share price. On Feb 25, 2016, Richard H Ross (director) sold 16,000 shares at $6.43 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.

Independence Realty Trust Inc

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