Independence Realty Trust, Inc. (NYSE:IRT) Given Average Recommendation of “Hold” by Brokerages

Shares of Independence Realty Trust, Inc. (NYSE:IRT) have been assigned an average rating of “Hold” from the eleven research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $19.9375.

A number of analysts have commented on IRT shares. Wells Fargo & Company reduced their price objective on Independence Realty Trust from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Weiss Ratings downgraded Independence Realty Trust from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft downgraded Independence Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research report on Tuesday, January 20th. Zacks Research upgraded Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. Finally, Wall Street Zen downgraded Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd.

Independence Realty Trust Stock Up 1.7%

IRT opened at $16.27 on Thursday. The firm has a market capitalization of $3.84 billion, a P/E ratio of 81.37, a price-to-earnings-growth ratio of 1.78 and a beta of 0.98. The stock’s 50 day moving average price is $15.75 and its two-hundred day moving average price is $16.42. Independence Realty Trust has a 12-month low of $14.60 and a 12-month high of $19.61.

Independence Realty Trust (NYSE:IRT) last released its 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. Independence Realty Trust had a return on equity of 1.35% and a net margin of 7.27%.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 EPS. The company’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. As a group, analysts anticipate that Independence Realty Trust will post 1.14 earnings per share for the current year.

Independence Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be given a $0.18 dividend. The ex-dividend date is Friday, June 26th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.4%. This is an increase from Independence Realty Trust’s previous quarterly dividend of $0.17. Independence Realty Trust’s dividend payout ratio is 340.00%.

Institutional Trading of Independence Realty Trust

Hedge funds have recently modified their holdings of the company. Solstein Capital LLC bought a new stake in shares of Independence Realty Trust in the 3rd quarter worth approximately $25,000. Danske Bank A S bought a new position in shares of Independence Realty Trust during the 3rd quarter worth approximately $26,000. First Horizon Corp bought a new position in shares of Independence Realty Trust during the 3rd quarter worth approximately $27,000. SHP Wealth Management bought a new position in shares of Independence Realty Trust during the 4th quarter worth approximately $30,000. Finally, 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 period. Institutional investors own 88.25% of the company’s stock.

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.