Public Employees Retirement System of Ohio Buys New Position in Independence Realty Trust, Inc. $IRT

Public Employees Retirement System of Ohio bought a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 270,504 shares of the real estate investment trust’s stock, valued at approximately $4,515,000. Public Employees Retirement System of Ohio owned approximately 0.11% of Independence Realty Trust at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Danske Bank A S purchased a new position in shares of Independence Realty Trust during the 3rd quarter valued at approximately $26,000. SHP Wealth Management acquired a new position in shares of Independence Realty Trust in the 4th quarter valued at about $30,000. Farther Finance Advisors LLC boosted its holdings in shares of Independence Realty Trust by 70.3% in the 4th 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 during the period. Smartleaf Asset Management LLC grew its position in shares of Independence Realty Trust by 97.9% during the 4th 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 during the last quarter. Finally, Sunbelt Securities Inc. grew its position in shares of Independence Realty Trust by 84.4% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Up 0.3%

Independence Realty Trust stock opened at $16.32 on Thursday. Independence Realty Trust, Inc. has a 52-week low of $14.60 and a 52-week high of $18.18. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 90.64 and a beta of 0.93. The firm has a 50-day moving average price of $16.74 and a two-hundred day moving average price of $16.32.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.26). The firm had revenue of $167.24 million during the quarter, compared to analyst estimates of $166.93 million. Independence Realty Trust had a net margin of 6.52% and a return on equity of 1.22%. Independence Realty Trust’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. Research analysts expect that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current year.

Analysts Set New Price Targets

IRT has been the topic of a number of recent research reports. Weiss Ratings raised shares of Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. UBS Group lowered their target price on Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Barclays upgraded Independence Realty Trust from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $19.00 to $20.00 in a research report on Tuesday, July 14th. Wells Fargo & Company boosted their price objective on Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Royal Bank Of Canada increased their target price on Independence Realty Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Independence Realty Trust currently has an average rating of “Moderate Buy” and a consensus price target of $19.56.

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.