Independent Financial Group LLC Acquires Shares of 48,395 Independence Realty Trust, Inc. $IRT

Independent Financial Group LLC bought a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the 1st quarter, Holdings Channel reports. The institutional investor bought 48,395 shares of the real estate investment trust’s stock, valued at approximately $721,000.

A number of other large investors have also recently modified their holdings of the business. Danske Bank A S bought a new position in shares of Independence Realty Trust in the 3rd quarter valued at $26,000. SHP Wealth Management acquired a new position in shares of Independence Realty Trust during the 4th quarter worth $30,000. Farther Finance Advisors LLC lifted its position in shares of 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 last quarter. Smartleaf Asset Management LLC boosted its stake in Independence Realty Trust by 97.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,875 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 1,422 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Independence Realty Trust by 1,420.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 3,329 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 3,110 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Trading Down 0.3%

Independence Realty Trust stock opened at $16.45 on Wednesday. The company has a market capitalization of $3.88 billion, a PE ratio of 82.25, a P/E/G ratio of 1.84 and a beta of 0.95. Independence Realty Trust, Inc. has a 12 month low of $14.60 and a 12 month high of $18.18. The stock has a 50-day moving average price of $16.59 and a two-hundred day moving average price of $16.38.

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

Independence Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were given a dividend of $0.18 per share. The ex-dividend date was Friday, June 26th. This represents a $0.72 annualized dividend and a yield of 4.4%. This is a boost from Independence Realty Trust’s previous quarterly dividend of $0.17. Independence Realty Trust’s dividend payout ratio is 360.00%.

Analysts Set New Price Targets

A number of research analysts have recently commented on IRT shares. Wall Street Zen cut shares of Independence Realty Trust from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Wells Fargo & Company lifted their price target on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Barclays upgraded shares of Independence Realty Trust from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $20.00 in a research report on Tuesday, July 14th. UBS Group dropped their price objective on shares of Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Finally, Weiss Ratings raised shares of Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Independence Realty Trust has a consensus rating of “Moderate Buy” and a consensus target price of $20.19.

Independence Realty Trust Profile

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.