Independence Realty Trust (NYSE:IRT) Raised to Strong-Buy at Jefferies Financial Group

Independence Realty Trust (NYSE:IRT) was upgraded by investment analysts at Jefferies Financial Group to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on IRT. Wells Fargo & Company increased their target price 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. UBS Group reduced their price target on Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Wall Street Zen lowered Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Weiss Ratings raised Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 6th. Finally, Barclays upgraded Independence Realty Trust from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $19.00 to $20.00 in a research note on Tuesday, July 14th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.19.

Independence Realty Trust Trading Down 0.8%

Shares of IRT stock opened at $16.34 on Wednesday. The stock has a market capitalization of $3.85 billion, a P/E ratio of 81.72, a PEG ratio of 1.83 and a beta of 0.95. The firm’s 50 day moving average is $16.59 and its 200 day moving average is $16.37. 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 released its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.23. Independence Realty Trust had a net margin of 7.27% and a return on equity of 1.35%. The business had revenue of $165.32 million during the quarter, compared to analyst estimates of $166.35 million. During the same period in the previous year, the business earned $0.27 EPS. Independence Realty Trust’s revenue was up 2.7% compared to the same quarter last year. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS.

Institutional Trading of Independence Realty Trust

A number of large investors have recently modified their holdings of the business. Danske Bank A S purchased a new position in shares of Independence Realty Trust during the third quarter worth about $26,000. SHP Wealth Management bought a new position in shares of Independence Realty Trust in the fourth quarter worth approximately $30,000. Farther Finance Advisors LLC raised its stake in 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 purchasing an additional 747 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in 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 purchasing an additional 1,422 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in Independence Realty Trust by 1,420.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 3,329 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 3,110 shares during the last quarter. Institutional investors own 88.25% of the company’s stock.

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.