Barclays analyst Anthony Powell lowered the firm’s price target on Independence Realty Trust to $18 from $22 and keeps an Overweight rating on the shares. Due to high supply growth and inflationary cost pressures, the earnings growth outlook for apartment real estate investment trusts is “generally soft,” the analyst tells investors in a research note. Given this, the firm is cautious on the space relative to other residential subsectors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on IRT:
- Independence Realty Clarifies Informal Investor Communications
- Independence Realty Trust reports Q4 core FFO 30c consensus 30c
- Independence Realty Trust sees FY24 core FFO $1.12-$1.16, consensus $1.17
- Independence Realty Trust (IRT) Q4 Earnings Cheat Sheet
- Independence Realty Trust initiated with a Buy at Deutsche Bank