Colliers Securities analyst Barry Oxford has maintained their bullish stance on IRT stock, giving a Buy rating on February 11.
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Barry Oxford has given his Buy rating due to a combination of factors impacting Independence Realty Trust. Notably, the company has demonstrated strong financial performance, as evidenced by its reported Core FFO that exceeded expectations, alongside robust same-store results and an increase in average rental rates. These results indicate a healthy operational outlook.
Additionally, the company’s financial guidance for 2025 suggests continued growth with projected increases in revenue and NOI, supported by a significant acquisition plan. Independence Realty Trust also maintains a solid balance sheet, with ample liquidity from cash reserves, forward equity sales, and an unsecured credit facility. The strategic extension of its credit line further enhances its financial flexibility, positioning the company well for future growth and stability.
According to TipRanks, Oxford is a 3-star analyst with an average return of 2.1% and a 56.85% success rate. Oxford covers the Real Estate sector, focusing on stocks such as Mid-America Apartment, AvalonBay, and Equity Lifestyle.
In another report released on February 11, JMP Securities also reiterated a Buy rating on the stock with a $22.00 price target.