Texas Capital Bank Wealth Management Services Inc Invests $741,000 in Independence Realty Trust, Inc. $IRT

Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 44,372 shares of the real estate investment trust’s stock, valued at approximately $741,000.

A number of other hedge funds and other institutional investors have also modified their holdings of IRT. Danske Bank A S acquired a new position in Independence Realty Trust during the 3rd quarter worth $26,000. SHP Wealth Management acquired a new stake in shares of Independence Realty Trust in the 4th quarter valued at $30,000. Farther Finance Advisors LLC increased its stake in shares of 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 buying an additional 747 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Independence Realty Trust by 97.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,875 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 1,422 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its position in shares of Independence Realty Trust by 84.4% during the first quarter. Sunbelt Securities Inc. now owns 3,550 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 1,625 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Down 1.9%

NYSE:IRT opened at $16.71 on Tuesday. Independence Realty Trust, Inc. has a 12-month low of $14.60 and a 12-month high of $18.18. The stock’s fifty day simple moving average is $16.72 and its 200-day simple moving average is $16.32. The firm has a market capitalization of $3.94 billion, a P/E ratio of 92.83 and a beta of 0.94.

Independence Realty Trust (NYSE:IRT) last released its earnings results on Monday, August 3rd. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $167.24 million during the quarter, compared to analyst estimates of $166.93 million. During the same period in the previous year, the company posted $0.28 EPS. The company’s quarterly 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. As a group, equities research analysts expect that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IRT shares. Royal Bank Of Canada raised their price target on Independence Realty Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Barclays raised Independence Realty Trust from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $20.00 in a report on Tuesday, July 14th. Weiss Ratings upgraded shares of Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of Independence Realty Trust from a “strong sell” rating to a “sell” rating in a research note on Saturday. Finally, UBS Group dropped their price target on shares of Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.56.

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.