Jupiter Topco LLC acquired a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 103,797 shares of the real estate investment trust's stock, valued at approximately $1,733,000.
Several other hedge funds and other institutional investors have also modified their holdings of IRT. NewEdge Advisors LLC bought a new stake in shares of Independence Realty Trust during the first quarter worth $209,000. Goldman Sachs Group Inc. raised its holdings in shares of Independence Realty Trust by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,935,487 shares of the real estate investment trust's stock valued at $62,320,000 after buying an additional 420,682 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Independence Realty Trust by 1.1% in the second quarter. American Century Companies Inc. now owns 70,678 shares of the real estate investment trust's stock valued at $1,250,000 after buying an additional 789 shares during the last quarter. Invesco Ltd. lifted its position in Independence Realty Trust by 13.0% during the 2nd quarter. Invesco Ltd. now owns 1,139,216 shares of the real estate investment trust's stock worth $20,153,000 after buying an additional 131,444 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Independence Realty Trust by 63.3% during the 2nd quarter. First Trust Advisors LP now owns 196,463 shares of the real estate investment trust's stock worth $3,475,000 after acquiring an additional 76,147 shares during the last quarter. Institutional investors own 88.25% of the company's stock.
Analyst Ratings Changes
A number of analysts recently weighed in on IRT shares. Jefferies Financial Group raised shares of Independence Realty Trust to a "strong-buy" rating in a report on Wednesday, July 22nd. Royal Bank Of Canada upped their price objective on Independence Realty Trust from $18.00 to $19.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Barclays upgraded Independence Realty Trust from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $19.00 to $20.00 in a research report on Tuesday, July 14th. Wells Fargo & Company lifted their target price on Independence Realty Trust from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. Finally, Wall Street Zen upgraded Independence Realty Trust from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 15th. One 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $19.56.
Get Our Latest Research Report on Independence Realty Trust
Independence Realty Trust Price Performance
Independence Realty Trust stock opened at $16.15 on Friday. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 89.72 and a beta of 0.93. The company's 50 day simple moving average is $16.73 and its 200 day simple moving average is $16.32. Independence Realty Trust, Inc. has a fifty-two week low of $14.60 and a fifty-two week high of $18.18.
Independence Realty Trust (NYSE:IRT - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $167.24 million for the quarter, compared to analyst estimates of $166.93 million. Independence Realty Trust had a return on equity of 1.22% and a net margin of 6.52%.The business's quarterly revenue was up 3.2% compared to the same quarter last year. During the same period 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. As a group, analysts predict that Independence Realty Trust, Inc. will post 1.14 EPS for the current fiscal year.
About Independence Realty Trust
(
Free Report)
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.
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