Independence Realty Trust (NYSE:IRT) Stock Rating Upgraded by Jefferies Financial Group

Independence Realty Trust (NYSE:IRT) was upgraded by Jefferies Financial Group to a “strong-buy” rating in a research note issued to investors on Friday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on IRT. Zacks Research upgraded shares of Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. UBS Group dropped their price objective on shares of Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Wells Fargo & Company raised their price objective on shares of Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Barclays lifted their target price on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Finally, Weiss Ratings cut shares of Independence Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.06.

Independence Realty Trust Trading Up 1.1%

Shares of IRT stock opened at $16.94 on Friday. Independence Realty Trust has a 12 month low of $14.60 and a 12 month high of $18.18. The company has a market capitalization of $3.99 billion, a P/E ratio of 84.68, a P/E/G ratio of 1.87 and a beta of 0.96. The stock has a 50 day moving average of $16.35 and a two-hundred day moving average of $16.41.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.23. The business had revenue of $165.32 million for the quarter, compared to analysts’ expectations of $166.35 million. Independence Realty Trust had a return on equity of 1.35% and a net margin of 7.27%.Independence Realty Trust’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 earnings per share. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. Sell-side analysts predict that Independence Realty Trust will post 1.14 earnings per share for the current fiscal year.

Institutional Trading of Independence Realty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Solstein Capital LLC bought a new position in shares of Independence Realty Trust in the third quarter valued at about $25,000. Danske Bank A S acquired a new position in Independence Realty Trust during the 3rd quarter worth about $26,000. SHP Wealth Management bought a new stake in Independence Realty Trust during the 4th quarter worth about $30,000. Farther Finance Advisors LLC grew its holdings in Independence Realty Trust by 70.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 747 shares during the last quarter. Finally, Huntington National Bank increased its position in Independence Realty Trust by 46.4% in the 3rd quarter. Huntington National Bank now owns 2,289 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 725 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.

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.