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

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 28,868.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,247,662 shares of the real estate investment trust’s stock after acquiring an additional 1,243,355 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Independence Realty Trust were worth $20,823,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. IFM Investors Pty Ltd grew its position 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 valued at $674,000 after purchasing an additional 607 shares during the last quarter. Global Retirement Partners LLC lifted its stake in 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 valued at $86,000 after buying an additional 676 shares in the last quarter. Farther Finance Advisors LLC lifted its stake 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 buying an additional 747 shares in the last quarter. American Century Companies Inc. grew its holdings in Independence Realty Trust by 1.1% during the 2nd quarter. American Century Companies Inc. now owns 70,678 shares of the real estate investment trust’s stock valued at $1,250,000 after buying an additional 789 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in Independence Realty Trust by 37.5% during the 3rd quarter. Sunbelt Securities Inc. now owns 4,270 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 1,165 shares during the last quarter. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of Independence Realty Trust from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Barclays upgraded shares of Independence Realty Trust from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $19.00 to $20.00 in a report on Tuesday, July 14th. Royal Bank Of Canada boosted their price objective on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Finally, Jefferies Financial Group upgraded shares of Independence Realty Trust to a “strong-buy” rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.56.

Independence Realty Trust Price Performance

IRT opened at $16.10 on Friday. Independence Realty Trust, Inc. has a 12 month low of $14.60 and a 12 month high of $18.18. The business has a 50-day moving average of $16.71 and a two-hundred day moving average of $16.32. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 89.44 and a beta of 0.93.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.26). Independence Realty Trust had a return on equity of 1.22% and a net margin of 6.52%.The company had revenue of $167.24 million for the quarter, compared to analysts’ expectations of $166.93 million. During the same period in the prior year, the business earned $0.28 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. Equities research analysts anticipate 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.