Weakness Seen in Independence Realty Trust (IRT): Stock Falls by 6%


Independence Realty Trust, Inc. (IRT) saw a big move last session, as the company’s shares fell by over 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for IRT as the stock is now up over 7% in the past one-month time frame.
The real estate company has seen a flat record when it comes to current year estimate revisions over the past few weeks (0 increases, 0decreases), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
IRT currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
Some better-ranked stocks in the same industry include Spirit Realty Capital, Inc. (SRC), with a Zacks Rank #1 (Strong Buy), American Campus Communities, Inc. (ACC) and Mid-America Apartment Communities Inc. (MAA), each holding a Zacks Rank #2 (Buy).
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AMERICAN CAMPUS CMNTYS INC (ACC): Free Stock Analysis Report

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