Independence Realty Trust Sells 222 Unit Apartment Property in Atlanta, Georgia for $18.0 Million
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Compass Point Reiterates Buy Despite Independence Realty Trust's (IRT) Slight AFFO Miss
February 22, 2016 6:46 AM ESTCompass Point maintained a Buy rating on Independence Realty Trust (NYSE: IRT), and cut the price target to $10.50 (from $11.00), following the company's 4Q earnings report. IRT reported AFFO of $0.18 per share, slightly missing consensus by $0.01. The miss was due to higher than expected capital expenditures during the quarter. However, despite the AFFO miss, IRT still covered the dividend for the first... More
