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

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

Other equities analysts also recently issued reports about the stock. UBS Group dropped their price target 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. Wells Fargo & Company lifted 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. Weiss Ratings upgraded Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 6th. Wall Street Zen lowered Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Finally, Barclays raised Independence Realty Trust from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $19.00 to $20.00 in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.19.

Independence Realty Trust Stock Performance

IRT stock opened at $16.41 on Wednesday. The firm has a 50 day simple moving average of $16.59 and a 200 day simple moving average of $16.36. Independence Realty Trust has a 52 week low of $14.60 and a 52 week high of $18.18. The stock has a market cap of $3.87 billion, a P/E ratio of 82.03, a P/E/G ratio of 1.82 and a beta of 0.95.

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 for the quarter, beating the consensus estimate of $0.03 by $0.23. The firm had revenue of $165.32 million for the quarter, compared to analyst estimates of $166.35 million. Independence Realty Trust had a net margin of 7.27% and a return on equity of 1.35%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. 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 EPS for the current year.

Institutional Investors Weigh In On Independence Realty Trust

Several institutional investors and hedge funds have recently modified their holdings of the business. Danske Bank A S acquired a new position in Independence Realty Trust during the third quarter worth $26,000. SHP Wealth Management acquired a new stake in shares of Independence Realty Trust in the fourth quarter worth about $30,000. Farther Finance Advisors LLC boosted its stake in shares of 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 in the last quarter. Smartleaf Asset Management LLC boosted its stake 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 worth $51,000 after acquiring an additional 1,422 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its holdings 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 acquiring an additional 1,625 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

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.