Barclays analyst Anthony Powell raised the firm’s price target on Independence Realty Trust to $24 from $22 and keeps an Overweight rating on the shares. Following the Q4 earnings, the analyst believes it is important for apartment real estate investment trust investors to have exposure to New York City, citing "strong" rent growth outlook and moderate supply growth in 2023.
Published first on TheFly
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Read More on IRT:
- Independence Realty Trust sees 2023 core FFO $1.12-$1.16
- Independence Realty Trust reports Q4 core FFO 29c, consensus 28c
- Independence Realty Trust initiated with a Market Perform at JMP Securities
- Independence Realty Trust price target lowered to $21 from $27 at BTIG
- Deutsche downgrades six REITs to Hold, urges caution into 2023
