OVERSEA CHINESE BANKING Corp Ltd Takes $5.99 Million Position in Independence Realty Trust, Inc. $IRT

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 359,073 shares of the real estate investment trust’s stock, valued at approximately $5,993,000. OVERSEA CHINESE BANKING Corp Ltd owned about 0.15% of Independence Realty Trust as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of Independence Realty Trust by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 6,445,967 shares of the real estate investment trust’s stock valued at $112,690,000 after purchasing an additional 148,449 shares during the period. Hsbc Holdings PLC raised its stake in Independence Realty Trust by 49.2% during the 1st quarter. Hsbc Holdings PLC now owns 572,161 shares of the real estate investment trust’s stock valued at $8,518,000 after acquiring an additional 188,658 shares in the last quarter. Quantinno Capital Management LP boosted its position in Independence Realty Trust by 660.3% during the 1st quarter. Quantinno Capital Management LP now owns 318,941 shares of the real estate investment trust’s stock worth $4,749,000 after acquiring an additional 276,994 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Independence Realty Trust by 1,767.5% in the fourth quarter. Teacher Retirement System of Texas now owns 571,568 shares of the real estate investment trust’s stock worth $9,991,000 after purchasing an additional 540,962 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Independence Realty Trust by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,473,797 shares of the real estate investment trust’s stock worth $51,725,000 after purchasing an additional 134,364 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Up 0.2%

Shares of IRT stock opened at $16.66 on Friday. Independence Realty Trust, Inc. has a 12 month low of $14.60 and a 12 month high of $18.18. The company has a market cap of $3.93 billion, a PE ratio of 92.56 and a beta of 0.94. The business’s 50 day moving average is $16.70 and its two-hundred day moving average is $16.32.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IRT. Weiss Ratings upgraded shares of Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Wells Fargo & Company raised their target price on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Jefferies Financial Group raised Independence Realty Trust to a “strong-buy” rating in a report on Wednesday, July 22nd. Barclays upgraded shares of Independence Realty Trust from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $19.00 to $20.00 in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada increased their price objective on Independence Realty Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. One investment 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $19.56.

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.