Independence Realty Trust, Inc. (NYSE:IRT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Independence Realty Trust, Inc. (NYSE:IRT) have received an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $19.5625.

A number of equities analysts have commented on IRT shares. Royal Bank Of Canada lifted their price objective on shares of Independence Realty Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of Independence Realty Trust from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Wells Fargo & Company increased their price target on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Barclays upgraded Independence Realty Trust from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $19.00 to $20.00 in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group raised Independence Realty Trust to a “strong-buy” rating in a research note on Wednesday, July 22nd.

Hedge Funds Weigh In On Independence Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of IRT. Danske Bank A S bought a new position in shares of Independence Realty Trust during the 3rd quarter valued at approximately $26,000. SHP Wealth Management bought a new stake in Independence Realty Trust in the fourth quarter worth $30,000. Farther Finance Advisors LLC boosted its stake in Independence Realty Trust by 70.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 747 shares during the period. Smartleaf Asset Management LLC boosted its stake in Independence Realty Trust by 97.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,875 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 1,422 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Independence Realty Trust by 1,420.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 3,329 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 3,110 shares during the period. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Shares of IRT opened at $16.35 on Friday. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 90.83 and a beta of 0.94. Independence Realty Trust has a 1 year low of $14.60 and a 1 year high of $18.18. The business’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 posted its 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 during the quarter, compared to analysts’ expectations of $166.93 million. During the same period last year, the business posted $0.28 earnings per share. The company’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, sell-side analysts expect that Independence Realty Trust will post 1.14 earnings per share for the current year.

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.