Independence Realty Trust Inc (NYSEMKT:IRT) Sees Secondary Slide


Dallas, Texas 01/28/2014 (FINANCIALSTRENDS) – Independence Realty Trust Inc (NYSEMKT:IRT) the real estate investment company has seen some negative action, post the announcement of secondary offering. This time, RAIT Financial Trust offer of 6.5million, which will see a greenshoe option of 975K additional moving into IRT, a company which RAIT spun-off recently, but continues to hold external manager interest may not touch down on the $10 million on the secondary.

 IRT had its Initial Public Offer back in summer of 2013 and had not seen much positive movement on that front for some time. However, in early November and last week of October has seen some forward movement and the company is expected to maintain momentum into this year.

Independence Realty Trust Inc (NYSEMKT:IRT) is one of the major players in an investment niche which holds high net worth in the US market scenario – Real estate investment. The core area of operations for the realty and financial, investment services provider is the residential sector. Independence realty Trust is known to own as well as acquire a wide range of garden styled apartments. As a residential sector player, the investor is known to be a fast mover on the mid-rise structure scenario as well. Ownership of mid-rise apartments across properties located at Georgia, Texas, Virginia, Colorada as well as Indiana allows the firm to be major realty dependent financial services player.

Independence Realty Trust Inc (NYSEMKT:IRT) is a $79.83 million market cap company which has trade volumes of 503,870. The stock has been seeing much action on the stock market, as the stock currently trades at 52 week high of $9.28. the current low prices over the 52 week low is $7.90. the EPS value is -0.40. Though the company’s PE value is yet to be made available, the dividend rate is 0.72. The Yield for the stock is currently at 8.70.

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