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

Shares of Independence Realty Trust, Inc. (NYSE:IRT) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $21.5625.

Several brokerages have recently commented on IRT. KeyCorp cut their price target on Independence Realty Trust from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, December 4th. Wells Fargo & Company lowered their price objective on shares of Independence Realty Trust from $24.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, August 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Independence Realty Trust in a research report on Monday, December 15th. Colliers Securities lowered shares of Independence Realty Trust from a “moderate buy” rating to a “hold” rating in a report on Thursday, December 4th. Finally, UBS Group lowered their price target on shares of Independence Realty Trust from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, November 10th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Solstein Capital LLC purchased a new stake in shares of Independence Realty Trust in the third quarter worth approximately $25,000. Danske Bank A S purchased a new position in Independence Realty Trust during the third quarter valued at approximately $26,000. Brooklyn Investment Group increased its stake in Independence Realty Trust by 131.4% in the 1st quarter. Brooklyn Investment Group now owns 1,254 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 712 shares during the period. First Horizon Corp purchased a new stake in Independence Realty Trust in the 3rd quarter worth approximately $27,000. Finally, Hantz Financial Services Inc. lifted its position in Independence Realty Trust by 551.2% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,869 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 1,582 shares in the last quarter. 88.25% of the stock is owned by institutional investors.

Independence Realty Trust Stock Performance

Independence Realty Trust stock opened at $16.79 on Monday. The company has a 50 day moving average price of $16.51 and a 200-day moving average price of $17.07. Independence Realty Trust has a fifty-two week low of $15.06 and a fifty-two week high of $21.86. The company has a market capitalization of $4.01 billion, a PE ratio of 167.87, a P/E/G ratio of 2.32 and a beta of 1.01.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $167.14 million during the quarter, compared to the consensus estimate of $168.31 million. Independence Realty Trust had a return on equity of 0.62% and a net margin of 3.42%.During the same period last year, the company earned $0.29 EPS. Independence Realty Trust has set its FY 2025 guidance at 1.200-1.210 EPS. On average, analysts forecast that Independence Realty Trust will post 1.19 earnings per share for the current year.

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.68 dividend on an annualized basis and a yield of 4.1%. Independence Realty Trust’s dividend payout ratio is currently 680.00%.

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.