The firm has "Neutral" rating by Ladenburg Thalmann given on Thursday, May 19. The brokerage now has $42.00 target price on the real estate investment trust's stock, up from their previous target price of $40.00. Finally, BidaskClub cut shares of United Dominion Realty Trust from a "buy" rating to a "hold" rating in a report on Friday, July 28th. They noted that the move was a valuation call. About shares traded. Education Realty Trust, Inc.
Independence Realty Trust Inc (NYSE:IRT) has been given an average rating of "Buy" by the nine research firms that are now covering the stock, Marketbeat Ratings reports. Citigroup Inc. restated a "buy" rating and issued a $156.00 price objective (down previously from $160.00) on shares of Federal Realty Investment Trust in a research note on Sunday, June 11th.
Lexington Realty Trust (NYSE:LXP) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued on Thursday. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company's stock. The stock presently has an average rating of "Hold" and a consensus price target of $10.60.
The stock increased 0.85% or $0.32 during the last trading session, reaching $37.87. 401,483 shares of the company's stock traded hands. The Firm owns apartment properties in geographic non-gateway markets. Education Realty Trust has a 12-month low of $36.98 and a 12-month high of $47.18. The stock has a 50 day moving average price of $129.66 and a 200 day moving average price of $132.02.
Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.42 earnings per share for the quarter, meeting the Thomson Reuters' consensus estimate of $0.42. The business had revenue of $39.43 million for the quarter, compared to the consensus estimate of $39.43 million.
Among 3 analysts covering Independence Realty Trust (NYSEMKT:IRT), 2 have Buy rating, 0 Sell and 1 Hold. The California Public Employees Retirement System holds 316,137 shares with $2.82M value, up from 218,337 last quarter. During the same quarter a year ago, the company earned $0.39 earnings per share. Equities research analysts forecast that Independence Realty Trust will post $0.46 EPS for the current fiscal year. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of United States and global trademark and copyright laws. The original version of this story can be accessed at https://www.thestockobserver.com/2017/08/13/independence-realty-trust-inc-nyseirt-given-average-recommendation-of-buy-by-brokerages-updated-updated.html.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Financial And Invest Mgmt Group Limited has 38,305 shares for 0.16% of their portfolio. The ex-dividend date of this dividend is Tue, Aug 29th. This represents a $0.72 dividend on an annualized basis and a yield of 8.80%. This is a positive change from Education Realty Trust's previous quarterly dividend of $0.38. Education Realty Trust has a payout ratio of 81.3% meaning its dividend is now covered by earnings, but may not be in the future if the company's earnings fall.
In other Lexington Realty Trust news, Chairman E Robert Roskind sold 70,000 shares of the firm's stock in a transaction dated Thursday, May 18th. Following the transaction, the chief executive officer now owns 155,306 shares of the company's stock, valued at approximately $1,571,696.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
In related news, Director Kimberly Schaefer purchased 1,000 shares of the company's stock in a transaction on Wednesday, May 17th. The disclosure for this purchase can be found here. The company's revenue for the quarter was up 2.9% on a year-over-year basis. Following the completion of the sale, the vice president now owns 561,075 shares of the company's stock, valued at $21,909,978.75. It dropped, as 25 investors sold IRT shares while 25 reduced holdings. Allianz Asset Management AG boosted its stake in Independence Realty Trust by 90.4% in the fourth quarter.
Independence Realty Trust, Inc.is an internally-managed real estate investment trust. Dubuque Bank & Trust Co. acquired a new stake in shares of Education Realty Trust during the first quarter valued at about $213,000. Orinda Asset Management LLC now owns 1,058,695 shares of the real estate investment trust's stock valued at $9,920,000 after buying an additional 9,243 shares during the last quarter. Advisor Group Inc. raised its position in Federal Realty Investment Trust by 27.4% in the second quarter. NY now owns 43,649 shares of the real estate investment trust's stock valued at $389,000 after buying an additional 11,898 shares during the last quarter. First Allied Advisory Services Incorporated invested 0.01% in Independence Realty Trust Inc (NYSE:IRT). Alliancebernstein L.P. now owns 3,193,120 shares of the real estate investment trust's stock worth $130,439,000 after buying an additional 267,456 shares in the last quarter. Connecticut-based Verition Fund Mgmt Ltd Liability Corporation has invested 0.01% in Independence Realty Trust Inc (NYSE:IRT). Breton Hill Capital Ltd. now owns 174,660 shares of the real estate investment trust's stock worth $1,743,000 after buying an additional 81,897 shares in the last quarter. The Company is engaged in the business of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of real estate assets.