Centaurus Financial Inc. Acquires Shares of 32,273 Independence Realty Trust, Inc. $IRT

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

Several other large investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Independence Realty Trust during the 2nd quarter valued at approximately $601,975,000. Engineers Gate Manager LP boosted its holdings in Independence Realty Trust by 16,719.4% in the 4th quarter. Engineers Gate Manager LP now owns 4,299,707 shares of the real estate investment trust’s stock worth $75,159,000 after buying an additional 4,274,143 shares during the period. Morgan Stanley grew its stake in Independence Realty Trust by 209.5% in the 4th quarter. Morgan Stanley now owns 5,649,829 shares of the real estate investment trust’s stock valued at $98,759,000 after buying an additional 3,824,512 shares in the last quarter. Franklin Resources Inc. grew its stake in Independence Realty Trust by 1,435.4% in the 3rd quarter. Franklin Resources Inc. now owns 3,827,503 shares of the real estate investment trust’s stock valued at $62,733,000 after buying an additional 3,578,221 shares in the last quarter. Finally, Rush Island Management LP bought a new stake in Independence Realty Trust during the 1st quarter valued at $51,462,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Barclays upgraded Independence Realty Trust from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $19.00 to $20.00 in a research report on Tuesday, July 14th. Weiss Ratings upgraded 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 Independence Realty Trust from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. 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 note on Wednesday, August 5th. Finally, Wells Fargo & Company lifted their target price on Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Independence Realty Trust has a consensus rating of “Moderate Buy” and an average target price of $19.56.

Independence Realty Trust Price Performance

Shares of IRT opened at $16.35 on Friday. Independence Realty Trust, Inc. has a 1-year low of $14.60 and a 1-year high of $18.18. The company has a market capitalization of $3.85 billion, a P/E ratio of 90.83 and a beta of 0.94. The firm’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 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.26). The company had revenue of $167.24 million during the quarter, compared to analysts’ expectations of $166.93 million. Independence Realty Trust had a return on equity of 1.22% and a net margin of 6.52%.Independence Realty Trust’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. On average, equities analysts anticipate that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current year.

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.