Independence Realty Trust (NYSE:IRT) Earns “Hold (C-)” Rating from Weiss Ratings

by · The Markets Daily

Independence Realty Trust (NYSE:IRT – Get Free Report)‘s stock had its “hold (c-)” rating reissued by Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Several other research analysts also recently issued reports on the company. Compass Point raised Independence Realty Trust from a “neutral” rating to a “buy” rating and upped their price objective for the company from $22.00 to $24.00 in a research note on Thursday, July 31st. Wall Street Zen raised shares of Independence Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. UBS Group decreased their target price on shares of Independence Realty Trust from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, July 15th. Barclays decreased their target price on shares of 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. Finally, Wells Fargo & Company decreased their target price on shares of Independence Realty Trust from $24.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, August 27th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.14.

Get Our Latest Research Report on IRT

Independence Realty Trust Price Performance

Independence Realty Trust stock opened at $15.95 on Friday. The business has a 50 day moving average of $16.78 and a 200-day moving average of $17.64. Independence Realty Trust has a 1 year low of $15.06 and a 1 year high of $22.26. The company has a market capitalization of $3.73 billion, a P/E ratio of 159.54, a P/E/G ratio of 2.20 and a beta of 0.95.

Independence Realty Trust (NYSE:IRT – Get Free Report) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Independence Realty Trust had a net margin of 3.42% and a return on equity of 0.62%. The firm had revenue of $166.89 million during the quarter, compared to analyst estimates of $168.31 million. During the same period in the prior year, the company earned $0.29 EPS. Independence Realty Trust has set its FY 2025 guidance at 1.200-1.210 EPS. Equities analysts anticipate that Independence Realty Trust will post 1.19 EPS for the current year.

Institutional Trading of Independence Realty Trust

Large investors have recently modified their holdings of the stock. Brooklyn Investment Group grew its position in shares of Independence Realty Trust by 131.4% during the 1st quarter. Brooklyn Investment Group now owns 1,254 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 712 shares during the period. First Horizon Corp acquired a new stake in shares of Independence Realty Trust during the 3rd quarter worth approximately $27,000. Hantz Financial Services Inc. grew its position in shares of Independence Realty Trust by 551.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,869 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 1,582 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Independence Realty Trust during the 1st quarter worth approximately $53,000. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of Independence Realty Trust during the 1st quarter worth approximately $57,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

About Independence Realty Trust

(Get Free Report)

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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