UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Holdings in Independence Realty Trust, Inc. $IRT

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 28,868.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,247,662 shares of the real estate investment trust's stock after purchasing an additional 1,243,355 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.53% of Independence Realty Trust worth $20,823,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Independence Realty Trust during the second quarter worth approximately $601,975,000. Engineers Gate Manager LP boosted its holdings in shares of Independence Realty Trust by 16,719.4% in the fourth quarter. Engineers Gate Manager LP now owns 4,299,707 shares of the real estate investment trust's stock valued at $75,159,000 after acquiring an additional 4,274,143 shares during the period. Morgan Stanley grew its position in shares of Independence Realty Trust by 209.5% during the fourth quarter. Morgan Stanley now owns 5,649,829 shares of the real estate investment trust's stock worth $98,759,000 after acquiring an additional 3,824,512 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Independence Realty Trust by 1,435.4% during the third quarter. Franklin Resources Inc. now owns 3,827,503 shares of the real estate investment trust's stock worth $62,733,000 after acquiring an additional 3,578,221 shares during the last quarter. Finally, Rush Island Management LP acquired a new position in shares of Independence Realty Trust in the 1st quarter valued at $51,462,000. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Stock Down 0.2%

Shares of NYSE:IRT opened at $16.10 on Friday. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 89.44 and a beta of 0.93. The firm's 50-day simple moving average is $16.71 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 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 return on equity of 1.22% and a net margin of 6.52%.The company's revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. On average, research analysts forecast that Independence Realty Trust, Inc. will post 1.14 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an "overweight" rating in a research report on Monday, June 1st. Barclays upgraded shares of Independence Realty Trust from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $19.00 to $20.00 in a research note on Tuesday, July 14th. Jefferies Financial Group raised shares of Independence Realty Trust to a "strong-buy" rating in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Independence Realty Trust from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. Finally, UBS Group lowered their price target on Independence Realty Trust from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Independence Realty Trust has a consensus rating of "Moderate Buy" and a consensus price target 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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