Independence Realty Trust, Inc. (NYSE:IRT) Receives Average Rating of “Moderate Buy” from Analysts

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

IRT has been the subject of several analyst reports. Weiss Ratings raised shares of Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Wells Fargo & Company lifted their price objective on shares of Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Wall Street Zen upgraded shares of Independence Realty Trust from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Barclays raised shares of Independence Realty Trust from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $19.00 to $20.00 in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group upgraded shares of Independence Realty Trust to a “strong-buy” rating in a research note on Wednesday, July 22nd.

Independence Realty Trust Trading Down 0.2%

IRT opened at $16.66 on Friday. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 92.56 and a beta of 0.94. Independence Realty Trust has a 12 month low of $14.60 and a 12 month high of $18.18. The stock has a fifty day moving average price of $16.72 and a 200-day moving average price of $16.33.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings data 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 net margin of 6.52% and a return on equity of 1.22%. The company had revenue of $167.24 million for the quarter, compared to the consensus estimate of $166.93 million. During the same period in the previous year, the business earned $0.28 EPS. Independence Realty Trust’s revenue for the quarter 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. On average, equities research analysts forecast that Independence Realty Trust will post 1.14 EPS for the current year.

Hedge Funds Weigh In On Independence Realty Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new stake in Independence Realty Trust during the 1st quarter worth approximately $209,000. Goldman Sachs Group Inc. raised its holdings in shares of Independence Realty Trust by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,935,487 shares of the real estate investment trust’s stock worth $62,320,000 after buying an additional 420,682 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Independence Realty Trust by 1.1% during the second quarter. American Century Companies Inc. now owns 70,678 shares of the real estate investment trust’s stock worth $1,250,000 after buying an additional 789 shares during the period. Invesco Ltd. lifted its stake in shares of Independence Realty Trust by 13.0% during the second quarter. Invesco Ltd. now owns 1,139,216 shares of the real estate investment trust’s stock worth $20,153,000 after buying an additional 131,444 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Independence Realty Trust by 63.3% during the second quarter. First Trust Advisors LP now owns 196,463 shares of the real estate investment trust’s stock worth $3,475,000 after buying an additional 76,147 shares during the period. 88.25% of the stock is owned by hedge funds and other institutional investors.

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.