Jefferies Upgrades Independence Realty Trust (IRT)

Fintel reports that on March 10, 2025, Jefferies upgraded their outlook for Independence Realty Trust (NYSE:IRT) from Hold to Buy.

Analyst Price Forecast Suggests 5.04% Upside

As of March 4, 2025, the average one-year price target for Independence Realty Trust is $22.06/share. The forecasts range from a low of $20.20 to a high of $26.25. The average price target represents an increase of 5.04% from its latest reported closing price of $21.00 / share.

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The projected annual revenue for Independence Realty Trust is 1,424MM, an increase of 122.37%. The projected annual non-GAAP EPS is 0.48.

What is the Fund Sentiment?

There are 780 funds or institutions reporting positions in Independence Realty Trust. This is an increase of 29 owner(s) or 3.86% in the last quarter. Average portfolio weight of all funds dedicated to IRT is 0.25%, an increase of 0.30%. Total shares owned by institutions increased in the last three months by 4.38% to 290,172K shares. The put/call ratio of IRT is 0.93, indicating a bullish outlook.

What are Other Shareholders Doing?

T. Rowe Price Investment Management holds 14,376K shares representing 6.24% ownership of the company. In its prior filing, the firm reported owning 14,637K shares , representing a decrease of 1.82%. The firm decreased its portfolio allocation in IRT by 2.77% over the last quarter.

Wellington Management Group Llp holds 13,399K shares representing 5.81% ownership of the company. In its prior filing, the firm reported owning 11,361K shares , representing an increase of 15.21%. The firm decreased its portfolio allocation in IRT by 83.29% over the last quarter.

Alliancebernstein holds 9,570K shares representing 4.15% ownership of the company. In its prior filing, the firm reported owning 9,571K shares , representing a decrease of 0.01%. The firm decreased its portfolio allocation in IRT by 23.95% over the last quarter.

Macquarie Group holds 8,960K shares representing 3.89% ownership of the company. In its prior filing, the firm reported owning 9,311K shares , representing a decrease of 3.92%. The firm decreased its portfolio allocation in IRT by 13.26% over the last quarter.

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 8,865K shares representing 3.85% ownership of the company. In its prior filing, the firm reported owning 9,015K shares , representing a decrease of 1.69%. The firm increased its portfolio allocation in IRT by 0.06% over the last quarter.

Independence Realty Trust Background Information
(This description is provided by the company.)

Independence Realty Trust is a real estate investment trust that owns and operates multifamily apartment properties across non-gateway U.S. markets, including Atlanta, Dallas, Louisville, Memphis, Raleigh and Tampa. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers. IRT aims to provide stockholders attractive risk-adjusted returns through diligent portfolio management, strong operational performance, and a consistent return on capital through distributions and capital appreciation.

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