Gallagher Fiduciary Advisors LLC Buys Shares of 47,801 Independence Realty Trust, Inc. $IRT

Gallagher Fiduciary Advisors LLC purchased a new position in Independence Realty Trust, Inc. (NYSE:IRT) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 47,801 shares of the real estate investment trust’s stock, valued at approximately $798,000.

A number of other large investors also recently modified their holdings of IRT. IFM Investors Pty Ltd grew its stake in shares of Independence Realty Trust by 1.6% in the fourth 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 raised its stake in Independence Realty Trust by 15.9% during the 4th quarter. Global Retirement Partners LLC now owns 4,921 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 676 shares during the last quarter. CWM LLC boosted its holdings in 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 valued at $688,000 after purchasing an additional 712 shares during the period. Farther Finance Advisors LLC boosted its holdings in 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 valued at $32,000 after purchasing an additional 747 shares during the period. Finally, American Century Companies Inc. grew its position in Independence Realty Trust by 1.1% in the 2nd 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. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IRT has been the topic of several research reports. Royal Bank Of Canada boosted their price objective on shares of Independence Realty Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. UBS Group reduced their target price on shares of 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. Barclays raised Independence Realty Trust from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $19.00 to $20.00 in a research report on Tuesday, July 14th. Jefferies Financial Group raised Independence Realty Trust to a “strong-buy” rating in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company raised their price objective on Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.56.

Independence Realty Trust Stock Performance

Shares of IRT stock opened at $16.70 on Wednesday. Independence Realty Trust, Inc. has a 52-week low of $14.60 and a 52-week high of $18.18. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 92.75 and a beta of 0.94. The firm has a fifty day moving average of $16.70 and a 200-day moving average of $16.33.

Independence Realty Trust (NYSE:IRT) last issued its earnings results on Monday, August 3rd. The real estate investment trust reported $0.01 earnings per share 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 analyst estimates 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 was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 earnings per share. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. On average, sell-side analysts predict 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.