Independence Realty Trust Achieved 'Strong' Sequential Acceleration in New Lease Spreads in Q3, UBS Says

12:34 PM EST, 11/03/2026 (MT Newswires) -- Independence Realty Trust (IRT) achieved a "strong" sequential acceleration in new lease spreads in Q3, reflecting consistent lead volumes with a slow return of pricing power as concession use and supply moderate, UBS said in a Monday note. Additionally, the REIT's revenue was in-line while higher operational expenses were offset by non-operating items, according to the note. UBS said that like-term new lease spreads accelerated 210 basis points sequentially with all leases impacted by short term world cup-rated rentals. The company continues to expect 2026 core funds from operations per share of $1.13 to $1.15, versus the UBS estimate of $1.14, the note said. UBS maintained the company's buy rating, with a $17 price target. Price: 14.90, Change: -0.04, Percent Change: -0.26