Readystate Asset Management LP Makes New $2.06 Million Investment in Independence Realty Trust, Inc. $IRT

Readystate Asset Management LP acquired a new stake in Independence Realty Trust, Inc. (NYSE:IRT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 123,465 shares of the real estate investment trust’s stock, valued at approximately $2,061,000. Readystate Asset Management LP owned approximately 0.05% of Independence Realty Trust at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Danske Bank A S acquired a new stake in shares of Independence Realty Trust in the 3rd quarter worth about $26,000. SHP Wealth Management acquired a new position in Independence Realty Trust during the 4th quarter valued at about $30,000. Smartleaf Asset Management LLC increased its holdings in 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 in the last quarter. Sunbelt Securities Inc. increased its holdings in 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 in the last quarter. Finally, Assetmark Inc. raised its stake in shares of Independence Realty Trust by 73.2% in the first quarter. Assetmark Inc. now owns 3,630 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 1,534 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IRT has been the topic of several analyst reports. Wall Street Zen raised Independence Realty Trust from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Jefferies Financial Group raised Independence Realty Trust to a “strong-buy” rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Wells Fargo & Company lifted their price objective on shares of Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Finally, Barclays upgraded shares of Independence Realty Trust from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $19.00 to $20.00 in a research note on Tuesday, July 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.56.

Independence Realty Trust Stock Up 0.1%

Shares of NYSE IRT opened at $16.10 on Tuesday. Independence Realty Trust, Inc. has a twelve month low of $14.60 and a twelve month high of $18.18. The stock’s 50 day moving average price is $16.70 and its 200-day moving average price is $16.31. The company has a market capitalization of $3.80 billion, a PE ratio of 89.44 and a beta of 0.93.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.26). The business had revenue of $167.24 million for the quarter, compared to analysts’ expectations of $166.93 million. Independence Realty Trust had a net margin of 6.52% and a return on equity of 1.22%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 earnings per share. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. As a group, research analysts expect that Independence Realty Trust, Inc. will post 1.14 EPS for the current fiscal 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.