Independence Realty boosted by Ladenburg

• One year after its IPO, Independence Realty Trust (IRT +2%) is reiterated a Buy at Ladenburg, with the team saying the valuation remains attractive and the multiple should expand further. The price target is lifted to $10.50 from $9.75,
• IRT came public at the disappointing price of $8.50 and is  up 16% since (along with a sizable dividend). Its advance (along with the company's growth) should benefit its manager and significant owner, RAIT Financial (RAS -0.4%).