Independence Realty Trust (NYSE:IRT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Independence Realty Trust (NYSE:IRT) from a strong sell rating to a sell rating in a research report released on Saturday morning.

A number of other analysts also recently issued reports on IRT. Barclays raised shares of Independence Realty Trust from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $20.00 in a report on Tuesday, July 14th. UBS Group lowered their target price on shares of Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Jefferies Financial Group upgraded shares of Independence Realty Trust to a “strong-buy” rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada boosted their price target on Independence Realty Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, Wells Fargo & Company increased their price target on Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.56.

Independence Realty Trust Stock Performance

IRT opened at $16.71 on Friday. Independence Realty Trust has a fifty-two week low of $14.60 and a fifty-two week high of $18.18. The company has a market capitalization of $3.94 billion, a P/E ratio of 92.83 and a beta of 0.94. The stock has a fifty day moving average of $16.72 and a 200-day moving average of $16.32.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Monday, August 3rd. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.26). Independence Realty Trust had a net margin of 6.52% and a return on equity of 1.22%. The business had revenue of $167.24 million during the quarter, compared to the consensus estimate of $166.93 million. During the same period in the previous year, the firm posted $0.28 EPS. The company’s revenue was up 3.2% compared to the same quarter last year. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. On average, equities research analysts predict that Independence Realty Trust will post 1.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Independence Realty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Danske Bank A S bought a new position in shares of Independence Realty Trust in the third quarter worth about $26,000. SHP Wealth Management bought a new stake in shares of Independence Realty Trust during the 4th quarter valued at approximately $30,000. Farther Finance Advisors LLC grew its holdings in shares of Independence Realty Trust by 70.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 747 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Independence Realty Trust by 97.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,875 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 1,422 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in Independence Realty Trust by 1,420.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,329 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 3,110 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Company Profile

Independence Realty Trust is a self-administered equity real estate investment trust that acquires, redevelops and manages multi-family communities. The company focuses on workforce housing, targeting Class A and B garden-style apartments in suburban and urban infill locations. Its core activities include sourcing value-add acquisitions, overseeing property renovations and delivering in-house property management services to optimize rental income and occupancy levels.

Headquartered in Wayne, Pennsylvania, Independence Realty Trust maintains a geographically diverse portfolio across several high-growth U.S.