Stock Worth Mentioning Today: Is Buying Independence Realty Trust Inc Here a Winning Strategy?

Stock Worth Mentioning Today: Is Buying Independence Realty Trust Inc Here a Winning Strategy?

The stock of Independence Realty Trust Inc (NYSEMKT:IRT) is a huge mover today! About 455,978 shares traded hands. Independence Realty Trust Inc (NYSEMKT:IRT) has risen 16.64% since April 5, 2016 and is uptrending. It has outperformed by 14.69% the S&P500.
The move comes after 8 months positive chart setup for the $600.94 million company. It was reported on Nov, 8 by Barchart.com. We have $10.74 PT which if reached, will make NYSEMKT:IRT worth $162.25 million more.

Independence Realty Trust Inc (NYSEMKT:IRT) Ratings Coverage

Out of 3 analysts covering Independence Realty Trust (NYSEMKT:IRT), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Independence Realty Trust has been the topic of 4 analyst reports since July 30, 2015 according to StockzIntelligence Inc. Deutsche Bank reinitiated the shares of IRT in a report on Monday, September 28 with “Hold” rating. The company was maintained on Thursday, July 30 by Wunderlich. The firm earned “Buy” rating on Monday, November 2 by Compass Point.

According to Zacks Investment Research, “Independence Realty Trust, Inc. is a real estate investment trust. It is focused on acquiring and owning well-located garden-style and mid-rise apartment properties. The Company owns apartment properties primarily in Arizona, Colorado, Georgia, Indiana, Texas and Virginia. Independence Realty Trust, Inc. is based in United States.”

Insitutional Activity: The institutional sentiment decreased to 1.66 in 2016 Q2. Its down 0.53, from 2.19 in 2016Q1. The ratio worsened, as 12 funds sold all Independence Realty Trust Inc shares owned while 20 reduced positions. 12 funds bought stakes while 41 increased positions. They now own 20.87 million shares or 6.21% less from 22.25 million shares in 2016Q1.
Blackrock Fund Advisors holds 0% or 1.09M shares in its portfolio. Blair William & Il holds 0.07% of its portfolio in Independence Realty Trust Inc (NYSEMKT:IRT) for 880,145 shares. Credit Suisse Ag holds 0% or 63,344 shares in its portfolio. Moreover, Creative Planning has 0% invested in Independence Realty Trust Inc (NYSEMKT:IRT) for 200 shares. State Of New Jersey Common Pension Fund D last reported 0.02% of its portfolio in the stock. California Employees Retirement Systems last reported 192,337 shares in the company. Moreover, Lsv Asset has 0% invested in Independence Realty Trust Inc (NYSEMKT:IRT) for 122,200 shares. Zebra Mgmt Limited Liability Corp accumulated 12,635 shares or 0.04% of the stock. Bank & Trust Of America Corporation De reported 2,346 shares or 0% of all its holdings. Eidelman Virant Capital has 120,000 shares for 0.6% of their US portfolio. Foundry Partners Ltd Liability Corp holds 0.19% or 413,525 shares in its portfolio. Northern Tru Corporation has invested 0% of its portfolio in Independence Realty Trust Inc (NYSEMKT:IRT). Tiaa Cref Invest Management Llc last reported 0% of its portfolio in the stock. Metropolitan Life Ins Co Ny owns 35,948 shares or 0% of their US portfolio. Guggenheim Cap Ltd Liability Co last reported 0% of its portfolio in the stock.

More recent Independence Realty Trust Inc (NYSEMKT:IRT) news were published by: Businesswire.com which released: “RAIT Announces Agreement with Independence Realty Trust to Internalize …” on September 27, 2016. Also Businesswire.com published the news titled: “Independence Realty Trust, Inc. Announces Exercise and Closing of Underwriters …” on October 24, 2016. Businesswire.com‘s news article titled: “Independence Realty Trust, Inc. Prices Public Offering of Common Stock” with publication date: September 29, 2016 was also an interesting one.

IRT Company Profile

Independence Realty Trust, Inc., incorporated on March 26, 2009, is an externally managed and advised apartment 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. It owns and operates a portfolio of garden style and mid-rise apartment communities in the Southeastern United States. The Company’s portfolio consists of approximately 50 apartment properties containing an aggregate of over 13,700 apartment units. The Company’s portfolio has an average occupancy of approximately 93.6%. The Firm conducts its business through a traditional umbrella partnership REIT (UPREIT) structure in which its properties are owned by its operating partnership, Independence Realty Operating Partnership, LP (IROP), directly or through subsidiaries. The Firm is the sole general partner of IROP.

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