Prosperitas Financial LLC Purchases New Position in Independence Realty Trust, Inc. $IRT

Prosperitas Financial LLC acquired a new position in Independence Realty Trust, Inc. (NYSE:IRT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 58,055 shares of the real estate investment trust’s stock, valued at approximately $969,000.

Several other institutional investors also recently bought and sold shares of IRT. Danske Bank A S bought a new stake in Independence Realty Trust during the 3rd quarter valued at $26,000. SHP Wealth Management bought a new position in shares of Independence Realty Trust in the 4th quarter worth $30,000. Farther Finance Advisors LLC raised its position in shares of 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 worth $32,000 after acquiring an additional 747 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Independence Realty Trust by 97.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,875 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 1,422 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in shares of Independence Realty Trust by 84.4% during the 1st quarter. Sunbelt Securities Inc. now owns 3,550 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 1,625 shares during the last quarter. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Independence Realty Trust Price Performance

Shares of IRT stock opened at $16.35 on Friday. The business has a fifty day moving average of $16.74 and a 200 day moving average of $16.33. Independence Realty Trust, Inc. has a 1 year low of $14.60 and a 1 year high of $18.18. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 90.83 and a beta of 0.94.

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 the consensus estimate of $0.27 by ($0.26). Independence Realty Trust had a net margin of 6.52% and a return on equity of 1.22%. The firm had revenue of $167.24 million for the quarter, compared to analysts’ expectations of $166.93 million. During the same quarter in the previous year, the firm posted $0.28 EPS. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. As a group, equities research analysts expect that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IRT. Wells Fargo & Company raised their price target on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, June 1st. UBS Group reduced their price objective 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. Jefferies Financial Group upgraded shares of Independence Realty Trust to a “strong-buy” rating in a research note on Wednesday, July 22nd. Barclays upgraded shares of Independence Realty Trust from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $19.00 to $20.00 in a research note on Tuesday, July 14th. Finally, Weiss Ratings raised Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.56.

Independence Realty Trust 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.