Wells Fargo & Company Issues Positive Forecast for Independence Realty Trust (NYSE:IRT) Stock Price

Independence Realty Trust (NYSE:IRT) had its price target boosted by analysts at Wells Fargo & Company from $18.00 to $19.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target points to a potential upside of 17.54% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. UBS Group reduced 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. Zacks Research raised shares of Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Barclays raised their target price on Independence Realty Trust from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Weiss Ratings upgraded Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 20th. Finally, Wall Street Zen downgraded Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.06.

Independence Realty Trust Stock Down 0.4%

Shares of IRT traded down $0.07 during midday trading on Monday, hitting $16.17. The company’s stock had a trading volume of 278,796 shares, compared to its average volume of 2,645,075. Independence Realty Trust has a one year low of $14.60 and a one year high of $18.74. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 80.93, a price-to-earnings-growth ratio of 1.81 and a beta of 0.96. The company’s fifty day simple moving average is $15.85 and its two-hundred day simple moving average is $16.46.

Independence Realty Trust (NYSE:IRT) last released its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.23. Independence Realty Trust had a return on equity of 1.35% and a net margin of 7.27%.The firm had revenue of $165.32 million for the quarter, compared to analysts’ expectations of $166.35 million. During the same quarter in the previous year, the business posted $0.27 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. On average, research analysts predict that Independence Realty Trust will post 1.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of IRT. Solstein Capital LLC acquired a new stake in Independence Realty Trust in the third quarter valued at approximately $25,000. Danske Bank A S bought a new position in shares of Independence Realty Trust in the 3rd quarter worth $26,000. SHP Wealth Management bought a new position in shares of Independence Realty Trust in the 4th quarter worth $30,000. Farther Finance Advisors LLC grew its position in Independence Realty Trust by 70.3% in 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 period. Finally, Huntington National Bank increased its stake in Independence Realty Trust by 46.4% during the 3rd quarter. Huntington National Bank now owns 2,289 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 725 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

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.