Deutsche Bank AG Makes New Investment in Independence Realty Trust, Inc. $IRT

Key Points

• Deutsche Bank acquired 351,947 shares of Independence Realty Trust in the second quarter, valued at approximately $5.9 million. Institutional investors and hedge funds collectively own 88.25% of the REIT.
• Analysts are generally positive, with a consensus “Moderate Buy” rating and an average price target of $19.56, above the reported share price of $16.88.
• Independence Realty Trust missed quarterly EPS estimates, reporting $0.01 versus the expected $0.27, although revenue rose 3.2% year over year to $167.24 million.

Deutsche Bank AG purchased a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 351,947 shares of the real estate investment trust's stock, valued at approximately $5,874,000. Deutsche Bank AG owned approximately 0.15% of Independence Realty Trust as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of IRT. Danske Bank A S acquired a new stake in Independence Realty Trust in the 3rd quarter valued at about $26,000. SHP Wealth Management bought a new position in shares of Independence Realty Trust during the 4th quarter valued at about $30,000. Farther Finance Advisors LLC grew its stake 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 worth $32,000 after purchasing an additional 747 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Independence Realty Trust by 97.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,875 shares of the real estate investment trust's stock worth $51,000 after purchasing an additional 1,422 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Independence Realty Trust by 1,420.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,329 shares of the real estate investment trust's stock worth $55,000 after purchasing an additional 3,110 shares in the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Barclays upgraded shares of Independence Realty Trust from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $19.00 to $20.00 in a research report on Tuesday, July 14th. Jefferies Financial Group upgraded Independence Realty Trust to a "strong-buy" rating in a research report on Wednesday, July 22nd. UBS Group reduced their price objective on Independence Realty Trust from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, May 14th. Royal Bank Of Canada lifted their target price on Independence Realty Trust from $18.00 to $19.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Finally, Wall Street Zen raised 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $19.56.

Independence Realty Trust Price Performance

Shares of IRT opened at $16.88 on Tuesday. Independence Realty Trust, Inc. has a one year low of $14.60 and a one year high of $18.18. The company has a 50-day moving average of $16.70 and a two-hundred day moving average of $16.33. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 93.78 and a beta of 0.94.

Independence Realty Trust (NYSE:IRT - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.26). The firm had revenue of $167.24 million for 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%. The firm's revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 EPS. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. Analysts anticipate 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.

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