203,517 Shares in Independence Realty Trust, Inc. $IRT Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) during the 2nd quarter, Holdings Channel reports. The firm bought 203,517 shares of the real estate investment trust’s stock, valued at approximately $3,397,000.

Other hedge funds have also bought and sold shares of the company. Engineers Gate Manager LP increased its position in Independence Realty Trust by 16,719.4% in the fourth quarter. Engineers Gate Manager LP now owns 4,299,707 shares of the real estate investment trust’s stock worth $75,159,000 after buying an additional 4,274,143 shares in the last quarter. Morgan Stanley raised its stake in shares of Independence Realty Trust by 209.5% in the fourth quarter. Morgan Stanley now owns 5,649,829 shares of the real estate investment trust’s stock worth $98,759,000 after buying an additional 3,824,512 shares during the period. Franklin Resources Inc. lifted its position in shares of Independence Realty Trust by 1,435.4% during the 3rd quarter. Franklin Resources Inc. now owns 3,827,503 shares of the real estate investment trust’s stock valued at $62,733,000 after buying an additional 3,578,221 shares in the last quarter. Rush Island Management LP purchased a new position in shares of Independence Realty Trust during the 1st quarter valued at about $51,462,000. Finally, Norges Bank bought a new position in shares of Independence Realty Trust during the 4th quarter valued at approximately $52,122,000. Institutional investors own 88.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Wells Fargo & Company lifted 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. Royal Bank Of Canada upped their price target on shares of Independence Realty Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Barclays raised shares of Independence Realty Trust from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $19.00 to $20.00 in a research note on Tuesday, July 14th. Finally, UBS Group decreased their price objective on shares of Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Independence Realty Trust currently has a consensus rating of “Moderate Buy” and an average price target of $19.56.

Independence Realty Trust Price Performance

Shares of IRT opened at $16.58 on Friday. The firm has a market cap of $3.91 billion, a P/E ratio of 92.11 and a beta of 0.94. Independence Realty Trust, Inc. has a 1 year low of $14.60 and a 1 year high of $18.18. The company has a 50 day simple moving average of $16.69 and a two-hundred day simple moving average of $16.32.

Independence Realty Trust (NYSE:IRT) last released its earnings results on Monday, August 3rd. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $166.93 million. During the same period last year, the firm posted $0.28 EPS. Independence Realty Trust’s quarterly revenue 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. On average, sell-side analysts anticipate that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current year.

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.