Independence Realty Trust (NYSE:IRT) Upgraded to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Independence Realty Trust (NYSE:IRT) from a strong sell rating to a sell rating in a report published on Saturday.

Several other equities analysts have also commented on IRT. Weiss Ratings upgraded shares of Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Jefferies Financial Group upgraded Independence Realty Trust to a “strong-buy” rating in a research report on Wednesday, July 22nd. Barclays raised shares of Independence Realty Trust from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $20.00 in a research note on Tuesday, July 14th. UBS Group dropped their target price on Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Finally, Wells Fargo & Company upped their price target on shares of Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note 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 issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.56.

Independence Realty Trust Stock Performance

NYSE IRT opened at $17.02 on Friday. The firm has a 50 day simple moving average of $16.72 and a 200-day simple moving average of $16.33. Independence Realty Trust has a one year low of $14.60 and a one year high of $18.18. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 94.58 and a beta of 0.94.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings data 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). The company had revenue of $167.24 million for 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%.The firm’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. Equities analysts predict that Independence Realty Trust will post 1.14 EPS for the current fiscal year.

Institutional Trading of Independence Realty Trust

Several hedge funds and other institutional investors have recently bought and sold shares of IRT. Danske Bank A S purchased a new stake in Independence Realty Trust in the third quarter valued at approximately $26,000. SHP Wealth Management purchased a new position in Independence Realty Trust in the fourth quarter valued at approximately $30,000. Farther Finance Advisors LLC lifted its position 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 valued at $32,000 after buying an additional 747 shares in the last quarter. Smartleaf Asset Management LLC lifted its position 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 valued at $51,000 after buying an additional 1,422 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its position in Independence Realty Trust by 84.4% during the first quarter. Sunbelt Securities Inc. now owns 3,550 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 1,625 shares in the last quarter. 88.25% of the stock is owned by hedge funds and other institutional investors.

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.