Independence Realty Trust, Inc. (NYSE:IRT) Receives $19.56 Consensus PT from Brokerages

Shares of Independence Realty Trust, Inc. (NYSE:IRT) have been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $19.5625.

Several research firms have recently commented on IRT. Weiss Ratings upgraded Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Wells Fargo & Company raised their price objective on Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Wall Street Zen raised Independence Realty Trust from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Royal Bank Of Canada boosted their price objective 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, UBS Group reduced their target price 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.

Institutional Trading of Independence Realty Trust

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

Independence Realty Trust Trading Up 1.8%

IRT opened at $16.88 on Friday. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 93.78 and a beta of 0.94. The company’s 50 day moving average is $16.70 and its 200 day moving average is $16.33. Independence Realty Trust has a 12-month low of $14.60 and a 12-month high of $18.18.

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

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.