Independence Realty Trust, Inc. (NYSE:IRT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Independence Realty Trust, Inc. (NYSE:IRT) have received an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $20.0625.

A number of equities analysts have recently commented on IRT shares. Weiss Ratings raised shares of Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Zacks Research upgraded Independence Realty Trust from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Jefferies Financial Group raised Independence Realty Trust to a “strong-buy” rating in a research report on Friday, June 26th. UBS Group reduced their price objective on Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Finally, Wells Fargo & Company upped their target price on Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st.

Independence Realty Trust Stock Performance

Shares of NYSE:IRT opened at $16.73 on Friday. Independence Realty Trust has a 1 year low of $14.60 and a 1 year high of $18.18. The stock has a market capitalization of $3.95 billion, a P/E ratio of 83.67, a PEG ratio of 1.88 and a beta of 0.95. The stock has a 50-day simple moving average of $16.55 and a 200-day simple moving average of $16.42.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 EPS for the quarter, beating the consensus estimate of $0.03 by $0.23. Independence Realty Trust had a net margin of 7.27% and a return on equity of 1.35%. The firm had revenue of $165.32 million for the quarter, compared to analyst estimates of $166.35 million. During the same quarter last year, the firm posted $0.27 earnings per share. Independence Realty Trust’s revenue for the quarter was up 2.7% compared to the same quarter last year. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. Analysts predict that Independence Realty Trust will post 1.14 earnings per share for the current year.

Independence Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be given a dividend of $0.18 per share. This is a boost from Independence Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.72 annualized dividend and a yield of 4.3%. Independence Realty Trust’s dividend payout ratio is presently 360.00%.

Institutional Trading of Independence Realty Trust

Several large investors have recently bought and sold shares of the company. Solstein Capital LLC acquired a new position in shares of Independence Realty Trust during the third quarter worth $25,000. Danske Bank A S acquired a new stake in Independence Realty Trust during the 3rd quarter valued at $26,000. SHP Wealth Management acquired a new stake in Independence Realty Trust during the 4th quarter valued at $30,000. Farther Finance Advisors LLC increased its stake in Independence Realty Trust by 70.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 747 shares during the period. Finally, Huntington National Bank lifted its holdings in Independence Realty Trust by 46.4% in the 3rd quarter. Huntington National Bank now owns 2,289 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 725 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

About Independence Realty Trust

Independence Realty Trust is a self-administered equity real estate investment trust that acquires, redevelops and manages multi-family communities. The company focuses on workforce housing, targeting Class A and B garden-style apartments in suburban and urban infill locations. Its core activities include sourcing value-add acquisitions, overseeing property renovations and delivering in-house property management services to optimize rental income and occupancy levels.

Headquartered in Wayne, Pennsylvania, Independence Realty Trust maintains a geographically diverse portfolio across several high-growth U.S.