Vanguard Group Inc. Raises Position in Independence Realty Trust, Inc. $IRT

Vanguard Group Inc. raised its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 0.8% during the 4th quarter, HoldingsChannel reports. The fund owned 33,235,002 shares of the real estate investment trust’s stock after acquiring an additional 250,549 shares during the quarter. Vanguard Group Inc. owned about 0.14% of Independence Realty Trust worth $580,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Solstein Capital LLC purchased a new position in shares of Independence Realty Trust during the 3rd quarter worth $25,000. Danske Bank A S purchased a new position in shares of Independence Realty Trust during the 3rd quarter worth $26,000. First Horizon Corp purchased a new position in shares of Independence Realty Trust during the 3rd quarter worth $27,000. Farther Finance Advisors LLC lifted its stake 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 valued at $32,000 after buying an additional 747 shares in the last quarter. Finally, Huntington National Bank lifted its stake in shares of Independence Realty Trust by 46.4% during the 3rd quarter. Huntington National Bank now owns 2,289 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 725 shares in the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

Shares of NYSE IRT opened at $16.45 on Tuesday. The company has a market cap of $3.88 billion, a P/E ratio of 82.27, a P/E/G ratio of 1.81 and a beta of 0.98. The firm’s fifty day moving average is $15.81 and its two-hundred day moving average is $16.41. Independence Realty Trust, Inc. has a 52-week low of $14.60 and a 52-week high of $19.71.

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

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were issued a $0.17 dividend. The ex-dividend date was Friday, March 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.1%. Independence Realty Trust’s payout ratio is 340.00%.

Analysts Set New Price Targets

A number of research firms recently weighed in on IRT. BMO Capital Markets upgraded shares of Independence Realty Trust from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $20.00 to $22.00 in a research note on Friday, January 9th. UBS Group lifted their target price on shares of Independence Realty Trust from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Citigroup restated an “outperform” rating on shares of Independence Realty Trust in a research note on Friday, January 9th. Wall Street Zen cut shares of Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday. Finally, Barclays lowered their target price on shares of Independence Realty Trust from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, March 6th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Independence Realty Trust has a consensus rating of “Moderate Buy” and a consensus price target of $19.94.

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.