RBC Capital Maintains Outperform Rating for Independence Realty Trust: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
RBC Capital has maintained its Outperform rating for Independence Realty Trust (NYSE:IRT) but lowered its price target from $18.00 to $17.00. The current share price is $12.45, meaning the new target represents a 36.55% increase. Independence Realty Trust is a REIT that operates multifamily apartment communities across non-gateway U.S. markets.
November 01, 2023 | 5:00 pm
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RBC Capital has maintained its Outperform rating for Independence Realty Trust but lowered its price target. This could lead to increased investor interest in the short term.
The Outperform rating indicates that RBC Capital expects Independence Realty Trust to outperform the market or its sector in the short term. However, the lowering of the price target may indicate a tempered expectation of the stock's future performance. This could lead to increased investor interest as the new target still represents a significant increase from the current share price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100