Independence Realty price target at JMP Securities, says buy inflection point

JMP Securities analyst Aaron Hecht raised the firm’s price target on Independence Realty Trust (IRT) to $25 from $22 and keeps an Outperform rating on the shares. In line results and fundamentals all point to conservative guidance for fiscal 2025, the analyst tells investors in a research note. The firm believes Q4 represents this cycle’s low point for new lease rate growth, which will heavily tilt toward the benefit of landlords soon, and recommends buying the inflection point in the stock.