Independence Realty Trust, Inc. (NYSE:IRT) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Independence Realty Trust, Inc. (NYSE: IRT) has received a consensus rating of "Moderate Buy" from analysts, with six out of eight firms issuing a buy rating.
• The average one-year price target for the stock is $22.12, although analysts have varied price projections, with some estimating targets as low as $20.00.
• The company reported earnings of $0.28 per share for the last quarter, matching analyst expectations, and has set a guidance for FY 2025 EPS between 1.195 and 1.215.

Independence Realty Trust, Inc. (NYSE:IRT - Get Free Report) has received a consensus rating of "Moderate Buy" from the eight research firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $22.1250.

IRT has been the topic of several analyst reports. Wall Street Zen downgraded shares of Independence Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Barclays reduced their price objective on Independence Realty Trust from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 12th. Compass Point upgraded shares of Independence Realty Trust from a "neutral" rating to a "buy" rating and lifted their target price for the company from $22.00 to $24.00 in a research report on Thursday, July 31st. UBS Group lowered their price target on Independence Realty Trust from $24.00 to $21.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company decreased their price objective on shares of Independence Realty Trust from $24.00 to $20.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 27th.

Hedge Funds Weigh In On Independence Realty Trust

A number of institutional investors have recently modified their holdings of the stock. D. E. Shaw & Co. Inc. acquired a new stake in shares of Independence Realty Trust in the 4th quarter valued at $1,781,000. Principal Financial Group Inc. increased its holdings in shares of Independence Realty Trust by 3.5% in the first quarter. Principal Financial Group Inc. now owns 747,252 shares of the real estate investment trust's stock worth $15,864,000 after acquiring an additional 25,124 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Independence Realty Trust by 889.9% during the 1st quarter. Victory Capital Management Inc. now owns 410,801 shares of the real estate investment trust's stock worth $8,721,000 after buying an additional 369,303 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Independence Realty Trust during the first quarter worth $53,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Independence Realty Trust by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,618,723 shares of the real estate investment trust's stock valued at $76,825,000 after purchasing an additional 57,108 shares in the last quarter. 88.25% of the stock is owned by institutional investors.

Independence Realty Trust Price Performance

Shares of IRT opened at $18.01 on Friday. Independence Realty Trust has a 12 month low of $16.59 and a 12 month high of $22.26. The stock has a fifty day moving average price of $17.44 and a 200 day moving average price of $18.74. The company has a market cap of $4.21 billion, a P/E ratio of 150.05, a PEG ratio of 2.45 and a beta of 0.96.

Independence Realty Trust (NYSE:IRT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.28. Independence Realty Trust had a return on equity of 0.78% and a net margin of 4.31%.The company had revenue of $161.89 million for the quarter, compared to analysts' expectations of $164.78 million. During the same period last year, the business posted $0.28 earnings per share. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. As a group, research analysts anticipate that Independence Realty Trust will post 1.19 earnings per share for the current year.

Independence Realty Trust Company Profile

Independence Realty Trust, Inc NYSE: IRT is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL.

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