Centaurus Financial Inc. Acquires New Position in Independence Realty Trust, Inc. $IRT

Centaurus Financial Inc. acquired a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 32,273 shares of the real estate investment trust’s stock, valued at approximately $539,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Independence Realty Trust by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 6,445,967 shares of the real estate investment trust’s stock valued at $112,690,000 after purchasing an additional 148,449 shares during the period. Quantinno Capital Management LP boosted its stake in Independence Realty Trust by 660.3% during the first quarter. Quantinno Capital Management LP now owns 318,941 shares of the real estate investment trust’s stock worth $4,749,000 after buying an additional 276,994 shares in the last quarter. Hsbc Holdings PLC raised its position in Independence Realty Trust by 49.2% in the first quarter. Hsbc Holdings PLC now owns 572,161 shares of the real estate investment trust’s stock worth $8,518,000 after purchasing an additional 188,658 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Independence Realty Trust by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,473,797 shares of the real estate investment trust’s stock worth $51,725,000 after purchasing an additional 134,364 shares during the period. Finally, Deutsche Bank AG bought a new position in Independence Realty Trust during the second quarter worth about $5,874,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

NYSE IRT opened at $16.35 on Friday. The firm has a market cap of $3.85 billion, a PE ratio of 90.83 and a beta of 0.94. Independence Realty Trust, Inc. has a one year low of $14.60 and a one year high of $18.18. The stock’s 50 day simple moving average is $16.74 and its 200 day simple moving average is $16.33.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings results 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 business had revenue of $167.24 million for the quarter, compared to analyst estimates of $166.93 million. During the same period in the prior year, the business earned $0.28 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. As a group, equities analysts expect that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

IRT has been the subject of several analyst reports. Royal Bank Of Canada raised their target price on Independence Realty Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Wells Fargo & Company increased 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. Weiss Ratings raised Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. 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. Finally, UBS Group lowered 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. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Independence Realty Trust currently has an average rating of “Moderate Buy” and a consensus target price of $19.56.

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.