TMB Capital Partners LLC Invests $1.50 Million in Independence Realty Trust, Inc. $IRT

TMB Capital Partners LLC bought a new position in Independence Realty Trust, Inc. (NYSE:IRT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 86,123 shares of the real estate investment trust’s stock, valued at approximately $1,505,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in Independence Realty Trust by 6.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,106,225 shares of the real estate investment trust’s stock worth $34,521,000 after purchasing an additional 123,274 shares in the last quarter. Argosy Lionbridge Management LLC purchased a new stake in Independence Realty Trust during the third quarter valued at about $12,209,000. Geode Capital Management LLC lifted its stake in Independence Realty Trust by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 6,445,967 shares of the real estate investment trust’s stock valued at $112,690,000 after buying an additional 148,449 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Independence Realty Trust by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 33,235,002 shares of the real estate investment trust’s stock worth $580,948,000 after buying an additional 250,549 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Independence Realty Trust by 1,767.5% in the fourth quarter. Teacher Retirement System of Texas now owns 571,568 shares of the real estate investment trust’s stock worth $9,991,000 after buying an additional 540,962 shares during the period. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Price Performance

NYSE IRT opened at $15.81 on Friday. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 79.05, a price-to-earnings-growth ratio of 1.78 and a beta of 0.96. The company has a 50 day simple moving average of $16.24 and a 200-day simple moving average of $16.43. Independence Realty Trust, Inc. has a 52-week low of $14.60 and a 52-week high of $18.18.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.26 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $166.35 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. On average, analysts predict that Independence Realty Trust, Inc. will post 1.14 EPS for the current year.

Independence Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.18 per share. This is an increase 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 dividend on an annualized basis and a dividend yield of 4.6%. Independence Realty Trust’s dividend payout ratio (DPR) is 340.00%.

Analyst Ratings Changes

IRT has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Weiss Ratings lowered shares of Independence Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 4th. Zacks Research upgraded shares of Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. UBS Group reduced their target price on Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Finally, Barclays raised their target price on Independence Realty Trust from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Independence Realty Trust has an average rating of “Hold” and an average price target of $20.06.

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.