Texas Capital Bank Wealth Management Services Inc Buys New Holdings in Independence Realty Trust, Inc. $IRT

Texas Capital Bank Wealth Management Services Inc bought a new position in Independence Realty Trust, Inc. (NYSE:IRT) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 44,372 shares of the real estate investment trust’s stock, valued at approximately $741,000.

A number of other institutional investors have also recently bought and sold shares of IRT. BlackRock Inc. acquired a new position in shares of Independence Realty Trust in the 2nd quarter valued at $601,975,000. Vanguard Group Inc. boosted its position in shares of Independence Realty Trust by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 33,235,002 shares of the real estate investment trust’s stock valued at $580,948,000 after acquiring an additional 250,549 shares in the last quarter. State Street Corp increased its stake in Independence Realty Trust by 0.6% in the fourth quarter. State Street Corp now owns 13,074,813 shares of the real estate investment trust’s stock valued at $230,705,000 after acquiring an additional 76,635 shares during the period. Alliancebernstein L.P. increased its stake in Independence Realty Trust by 0.3% in the second quarter. Alliancebernstein L.P. now owns 9,139,506 shares of the real estate investment trust’s stock valued at $161,678,000 after acquiring an additional 30,701 shares during the period. Finally, Geode Capital Management LLC raised its position in Independence Realty Trust by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 6,445,967 shares of the real estate investment trust’s stock worth $112,690,000 after purchasing an additional 148,449 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Shares of IRT opened at $16.71 on Tuesday. The company has a market capitalization of $3.94 billion, a P/E ratio of 92.83 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 business’s 50 day simple moving average is $16.72 and its 200-day simple moving average is $16.32.

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. On average, sell-side analysts anticipate that Independence Realty Trust, Inc. will post 1.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IRT. Jefferies Financial Group upgraded shares of Independence Realty Trust to a “strong-buy” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company upped their price objective on Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Weiss Ratings upgraded Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. UBS Group cut their target price 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. Finally, Barclays raised Independence Realty Trust from an “equal weight” rating to an “overweight” rating and boosted their price target for the company 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 issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average 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.