BTIG lowered the firm’s price target on Independence Realty Trust to $18 from $21 and keeps a Buy rating on the shares. The firm is updating its model to reflect a combination of slower expected growth from the existing portfolio as well as management’s announced asset disposition and deleveraging plan. Independence Realty Trust’s operating fundamentals in the third quarter continued to slow, with same store revenue growth of 5.4% impacted by 6.3% expense growth, the analyst tells investors in a research note.
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Read More on IRT:
- Independence Realty Trust price target lowered to $21 from $25 at Compass Point
- Independence Realty Trust price target lowered to $15 from $20 at JMP Securities
- Independence Realty Trust sees FY23 core FFO $1.14-$1.15, consensus $1.15
- Independence Realty Trust reports Q3 core FFO 30c, consensus 29c
- IRT Earnings this Week: How Will it Perform?
