Prosperitas Financial LLC Acquires Shares of 58,055 Independence Realty Trust, Inc. $IRT

Prosperitas Financial LLC acquired a new stake in Independence Realty Trust, Inc. (NYSE:IRT) in the second quarter, Holdings Channel.com reports. The firm acquired 58,055 shares of the real estate investment trust’s stock, valued at approximately $969,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Independence Realty Trust by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 6,445,967 shares of the real estate investment trust’s stock valued at $112,690,000 after buying an additional 148,449 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Independence Realty Trust by 660.3% during the first quarter. Quantinno Capital Management LP now owns 318,941 shares of the real estate investment trust’s stock worth $4,749,000 after acquiring an additional 276,994 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Independence Realty Trust by 49.2% during the first quarter. Hsbc Holdings PLC now owns 572,161 shares of the real estate investment trust’s stock worth $8,518,000 after acquiring an additional 188,658 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Independence Realty Trust by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,473,797 shares of the real estate investment trust’s stock worth $51,725,000 after acquiring an additional 134,364 shares during the period. Finally, Deutsche Bank AG acquired a new position in shares of Independence Realty Trust in the second quarter worth approximately $5,874,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IRT. Royal Bank Of Canada upped their target price on Independence Realty Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Barclays upgraded shares of Independence Realty Trust from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $19.00 to $20.00 in a report on Tuesday, July 14th. UBS Group reduced their price objective on shares of Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Weiss Ratings raised shares of Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Finally, Jefferies Financial Group upgraded shares of Independence Realty Trust to a “strong-buy” rating in a research report on Wednesday, July 22nd. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.56.

Independence Realty Trust Stock Down 0.3%

Shares of NYSE IRT opened at $16.35 on Friday. The firm has a market cap of $3.85 billion, a PE ratio of 90.83 and a beta of 0.94. The company’s fifty day simple moving average is $16.74 and its 200 day simple moving average is $16.33. Independence Realty Trust, Inc. has a 12-month low of $14.60 and a 12-month high of $18.18.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $167.24 million during the quarter, compared to the consensus estimate of $166.93 million. During the same period last year, the firm posted $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, equities analysts predict 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.