Engineers Gate Manager LP Sells 2,314,188 Shares of Independence Realty Trust, Inc. $IRT

Engineers Gate Manager LP cut its position in Independence Realty Trust, Inc. (NYSE:IRT) by 73.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 839,128 shares of the real estate investment trust’s stock after selling 2,314,188 shares during the quarter. Engineers Gate Manager LP owned about 0.36% of Independence Realty Trust worth $14,005,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Danske Bank A S bought a new position in Independence Realty Trust in the 3rd quarter worth approximately $26,000. SHP Wealth Management purchased a new stake in Independence Realty Trust during the 4th quarter worth about $30,000. Smartleaf Asset Management LLC lifted its holdings in Independence Realty Trust by 97.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,875 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 1,422 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in Independence Realty Trust by 84.4% in the 1st quarter. Sunbelt Securities Inc. now owns 3,550 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 1,625 shares during the period. Finally, Assetmark Inc. grew its holdings in Independence Realty Trust by 73.2% during the 1st quarter. Assetmark Inc. now owns 3,630 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 1,534 shares in the last quarter. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Shares of IRT stock opened at $15.24 on Friday. The business has a 50-day moving average of $16.60 and a 200 day moving average of $16.29. Independence Realty Trust, Inc. has a 1-year low of $14.60 and a 1-year high of $17.79. The stock has a market capitalization of $3.59 billion, a PE ratio of 84.67 and a beta of 0.93.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.26). The company had revenue of $167.24 million for the quarter, compared to analysts’ expectations of $166.93 million. Independence Realty Trust had a net margin of 6.52% and a return on equity of 1.22%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the company posted $0.28 EPS. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. Analysts anticipate that Independence Realty Trust, Inc. will post 1.14 EPS for the current year.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Wednesday, September 30th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.72 annualized dividend and a yield of 4.7%. Independence Realty Trust’s dividend payout ratio (DPR) is 400.00%.

Analyst Ratings Changes

IRT has been the topic of a number of recent analyst reports. UBS Group lowered their price target on shares of Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Wall Street Zen upgraded Independence Realty Trust from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Royal Bank Of Canada boosted their target price on Independence Realty Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Barclays upgraded Independence Realty Trust from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $19.00 to $20.00 in a research note on Tuesday, July 14th. Finally, Citigroup restated a “market outperform” rating on shares of Independence Realty Trust in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Independence Realty Trust presently has an average rating of “Moderate Buy” and an average target price of $19.83.

More Independence Realty Trust News

Here are the key news stories impacting Independence Realty Trust this week:

• Positive Sentiment: Citizens JMP reaffirmed its “market outperform” rating and set a $22 price target, implying substantial upside from recent levels. Citizens JMP reaffirms Independence Realty Trust rating
• Positive Sentiment: IRT declared a quarterly dividend of $0.18 per share, payable October 23 to shareholders of record September 30. The annualized payout is $0.72 per share, representing an indicated yield of approximately 4.7%.
• Positive Sentiment: The Centerspace combination could increase IRT’s scale, geographic diversification and operating efficiencies by creating an apartment REIT valued at approximately $8.1 billion, including debt. Independence Realty Trust and Centerspace Agree to $8.1 Billion Merger
• Neutral Sentiment: Under the proposed terms, Centerspace shareholders would receive 3.8 shares of IRT common stock for each Centerspace share, while existing IRT investors would own about 78% of the combined company. The all-stock structure limits immediate cash needs but increases the share count. Independence Realty Trust to Merge With Centerspace
• Negative Sentiment: Investor-rights law firms are investigating whether the transaction provides fair value and whether the merger process adequately protects shareholders. Such reviews add deal uncertainty and could increase legal or closing risks. Centerspace Investor Alert
• Negative Sentiment: The market’s negative reaction suggests concern that acquiring a peer may dilute near-term per-share results or create integration and balance-sheet risks, overshadowing the potential long-term benefits.

Independence Realty Trust Company 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.