Right now it is sideway with trend downward. With SPY retreat so far, RAS is following the market. $2 and $1.9 is strong support. Just my opinion from technical point of view. Fundamentally RAS is improving quite a lot.
"Looks like a good entry price" ------------- "The aggregate purchase price for the properties is $103.8 million, of which we (Independence Realty Trust) will assume $64.7 million in mortgage debt and our (Independence Realty Trust) operating partnership will issue $39.1 million in limited partner interests (to RAS)."
So, if you consider that on 1 May 2011, RAS eliminated $64.7 million of debt plus gained $39.1 million in limited partner interests in Independence Realty Trust ... and has another $600 million in multi-family real estate to sell to Independence after their offering ... and, they collect fees based upon the book value as thier "sponsor" ... and, RAS owns 75% of the property manager (Jupiter Communties) and benefits from their fees as well ... well, yes $2.10 is deeply undervalued for anyone not paying attention to the game changing potential ... however, let the shorts provide buying opportunities ... start with page 9