Colliers Securities analyst David Toti reiterated a Buy rating on Independence Realty (NYSE:IRT) on Tuesday, setting a price target of $20, which is approximately 3.41% above the present share price of $19.34.
Toti expects Independence Realty to post earnings per share (EPS) of $0.01 for the third quarter of 2021.
The current consensus among 6 TipRanks analysts is for a Strong Buy rating of shares in Independence Realty, with an average price target of $19.6.
The analysts price targets range from a high of $21 to a low of $18.
In its latest earnings report, released on 03/31/2021, the company reported a quarterly revenue of $55.11 million and a net profit of $9.84 million. The company's market cap is $1.98 billion.
According to TipRanks.com, Colliers Securities analyst David Toti is currently ranked with 3 stars on a 0-5 stars ranking scale, with an average return of 3.3% and a 61.22% success rate.
Independence Realty Trust, Inc. is a real estate investment trust. It acquires, owns, operates, improves and manages multifamily apartment communities across non-gateway U.S. markets. It aims to provide stockholders risk-adjusted returns through diligent portfolio management, operational performance and consistent return of capital through distributions and capital appreciation. The company was founded on March 26, 2009 and is headquartered in Philadelphia, PA.