Independence Realty Trust (NYSE:IRT) Stock Rating Lowered by Colliers Securities

Independence Realty Trust (NYSE:IRT) was downgraded by stock analysts at Colliers Securities from a “moderate buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other equities research analysts have also weighed in on the company. Wall Street Zen lowered Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Barclays lifted their price target on Independence Realty Trust from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. UBS Group cut their price objective on Independence Realty Trust from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Independence Realty Trust in a report on Tuesday. Finally, KeyCorp dropped their target price on shares of Independence Realty Trust from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.56.

Independence Realty Trust Trading Down 1.3%

Shares of IRT opened at $16.53 on Thursday. Independence Realty Trust has a 52 week low of $15.06 and a 52 week high of $21.89. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 165.27, a PEG ratio of 2.32 and a beta of 1.01. The stock has a 50 day moving average of $16.40 and a 200-day moving average of $17.20.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $167.14 million for the quarter, compared to the consensus estimate of $168.31 million. Independence Realty Trust had a net margin of 3.42% and a return on equity of 0.62%. During the same period in the previous year, the firm earned $0.29 EPS. Independence Realty Trust has set its FY 2025 guidance at 1.200-1.210 EPS. On average, sell-side analysts predict that Independence Realty Trust will post 1.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IRT. Solstein Capital LLC acquired a new position in shares of Independence Realty Trust in the third quarter worth $25,000. Danske Bank A S purchased a new position in Independence Realty Trust in the third quarter valued at about $26,000. Brooklyn Investment Group increased its position in Independence Realty Trust by 131.4% in the 1st quarter. Brooklyn Investment Group now owns 1,254 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 712 shares during the last quarter. First Horizon Corp acquired a new position in Independence Realty Trust in the 3rd quarter worth about $27,000. Finally, Hantz Financial Services Inc. raised its stake in shares of Independence Realty Trust by 551.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,869 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,582 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Company Profile

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL.