In a report released yesterday, Drew Babin from Robert W. Baird reiterated a Buy rating on Independence Realty (NYSE: IRT), with a price target of $11. The company’s shares opened today at $10.11.
According to TipRanks.com, Babin is a 4-star analyst with an average return of 9.6% and a 81.3% success rate. Babin covers the Financial sector, focusing on stocks such as Bluerock Residential Growth, Physicians Realty Trust, and Education Realty Trust.
Independence Realty has an analyst consensus of Strong Buy, with a price target consensus of $11.33, implying a 12.1% upside from current levels. In a report issued on August 3, Compass Point also reiterated a Buy rating on the stock with a $12 price target.
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Independence Realty’s market cap is currently $889.1M and has a P/E ratio of 56.17. The company has a Price to Book ratio of 1.43.
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Independence Realty Trust, Inc. is a real estate investment trust. It owns and operates multifamily apartment communities across non-gateway U.S. markets, including Louisville, Memphis, Atlanta and Raleigh. The company is focused on gaining scale within key amenity rich submarkets that offer school districts, retail and employment centers.
