Mitsubishi UFJ Asset Management Co. Ltd. Invests $3.40 Million in Independence Realty Trust, Inc. $IRT

Key Points

• Mitsubishi UFJ Asset Management purchased 203,517 shares of Independence Realty Trust, valued at approximately $3.4 million, giving it a 0.09% stake. Institutional investors collectively own 88.25% of IRT.
• IRT shares opened at $16.58, near their moving averages, with a market capitalization of $3.91 billion. The REIT reported quarterly EPS of $0.01, missing the $0.27 consensus estimate, while revenue rose 3.2% year over year to $167.24 million.
• Analyst sentiment is broadly positive: IRT has a consensus rating of “Moderate Buy” and an average price target of $19.56, compared with the current share price.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 203,517 shares of the real estate investment trust's stock, valued at approximately $3,397,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.09% of Independence Realty Trust as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in IRT. IFM Investors Pty Ltd raised its holdings in Independence Realty Trust by 1.6% in the 4th quarter. IFM Investors Pty Ltd now owns 38,532 shares of the real estate investment trust's stock worth $674,000 after acquiring an additional 607 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Independence Realty Trust by 15.9% in the 4th quarter. Global Retirement Partners LLC now owns 4,921 shares of the real estate investment trust's stock worth $86,000 after purchasing an additional 676 shares in the last quarter. CWM LLC increased its holdings in shares of Independence Realty Trust by 1.8% in the 4th quarter. CWM LLC now owns 39,365 shares of the real estate investment trust's stock worth $688,000 after purchasing an additional 712 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Independence Realty Trust by 70.3% in the fourth 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. Finally, American Century Companies Inc. raised its stake 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 worth $1,250,000 after purchasing an additional 789 shares during the last quarter. Institutional investors own 88.25% of the company's stock.

Independence Realty Trust Stock Down 0.3%

Independence Realty Trust stock opened at $16.58 on Friday. The business has a 50-day simple moving average of $16.69 and a two-hundred day simple moving average of $16.32. The company has a market cap of $3.91 billion, a P/E ratio of 92.11 and a beta of 0.94. Independence Realty Trust, Inc. has a 52-week low of $14.60 and a 52-week high of $18.18.

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 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 analysts' expectations 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 period in the previous year, the company earned $0.28 EPS. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. Research analysts anticipate that Independence Realty Trust, Inc. will post 1.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on IRT. Jefferies Financial Group raised Independence Realty Trust to a "strong-buy" rating in a research report on Wednesday, July 22nd. Barclays raised Independence Realty Trust from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $19.00 to $20.00 in a research report on Tuesday, July 14th. Wall Street Zen upgraded shares of Independence Realty Trust from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 15th. 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 report on Thursday, May 14th. Finally, Wells Fargo & Company raised their price target on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an "overweight" rating in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Independence Realty Trust presently has an average rating of "Moderate Buy" and a consensus target price 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.

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