KeyBanc lowered the firm's price target on Independence Realty Trust to $19 from $21 and keeps an Overweight rating on the shares. The firm is decreasing its 2026 FFO/share estimates by 2.8%, on average, and its same store revenue growth assumptions by about 60 bps, on average, to reflect its revised outlook and quarterly results. KeyBanc is also decreasing its 2027 FFO/share estimates by 4.6%, on average, and its 2027 same store revenue growth assumptions by about 90 bps, on average, to reflect the aforementioned items.
