Gallagher Fiduciary Advisors LLC Purchases Shares of 47,801 Independence Realty Trust, Inc. $IRT

Gallagher Fiduciary Advisors LLC acquired a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,801 shares of the real estate investment trust’s stock, valued at approximately $798,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFM Investors Pty Ltd boosted its stake in shares of Independence Realty Trust by 1.6% in the 4th quarter. IFM Investors Pty Ltd now owns 38,532 shares of the real estate investment trust’s stock valued at $674,000 after purchasing an additional 607 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Independence Realty Trust by 15.9% during the 4th quarter. Global Retirement Partners LLC now owns 4,921 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 676 shares in the last quarter. CWM LLC increased its position in shares of Independence Realty Trust by 1.8% during the 4th quarter. CWM LLC now owns 39,365 shares of the real estate investment trust’s stock worth $688,000 after purchasing an additional 712 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in 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. Finally, American Century Companies Inc. lifted its holdings in Independence Realty Trust by 1.1% during the 2nd quarter. American Century Companies Inc. now owns 70,678 shares of the real estate investment trust’s stock valued at $1,250,000 after purchasing an additional 789 shares during the last quarter. 88.25% of the stock is owned by institutional investors.

Independence Realty Trust Stock Down 1.1%

Shares of NYSE:IRT opened at $16.70 on Wednesday. Independence Realty Trust, Inc. has a 12 month low of $14.60 and a 12 month high of $18.18. The company’s 50-day moving average price is $16.70 and its two-hundred day moving average price is $16.33. The firm has a market cap of $3.94 billion, a P/E ratio of 92.75 and a beta of 0.94.

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 for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.26). Independence Realty Trust had a return on equity of 1.22% and a net margin of 6.52%.The company had revenue of $167.24 million during the quarter, compared to the consensus estimate of $166.93 million. During the same period in the prior year, the firm posted $0.28 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. As a group, equities analysts predict that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on IRT shares. UBS Group dropped their price objective on shares of Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Weiss Ratings raised Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Royal Bank Of Canada increased their price target on Independence Realty Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Jefferies Financial Group raised Independence Realty Trust to a “strong-buy” rating in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company lifted their price objective on Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.56.

About Independence Realty Trust

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.