86,123 Shares in Independence Realty Trust, Inc. $IRT Purchased by TMB Capital Partners LLC

TMB Capital Partners LLC acquired a new stake in Independence Realty Trust, Inc. (NYSE:IRT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 86,123 shares of the real estate investment trust’s stock, valued at approximately $1,505,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC acquired a new stake in shares of Independence Realty Trust in the first quarter valued at approximately $209,000. Goldman Sachs Group Inc. boosted its position in shares of Independence Realty Trust by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,935,487 shares of the real estate investment trust’s stock worth $62,320,000 after buying an additional 420,682 shares during the period. American Century Companies Inc. boosted its position in shares of Independence Realty Trust by 1.1% during the second quarter. American Century Companies Inc. now owns 70,678 shares of the real estate investment trust’s stock worth $1,250,000 after buying an additional 789 shares during the period. Invesco Ltd. boosted its position in shares of Independence Realty Trust by 13.0% during the second quarter. Invesco Ltd. now owns 1,139,216 shares of the real estate investment trust’s stock worth $20,153,000 after buying an additional 131,444 shares during the period. Finally, First Trust Advisors LP grew its holdings in Independence Realty Trust by 63.3% in the 2nd quarter. First Trust Advisors LP now owns 196,463 shares of the real estate investment trust’s stock worth $3,475,000 after buying an additional 76,147 shares in the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Price Performance

Shares of NYSE:IRT opened at $15.81 on Friday. Independence Realty Trust, Inc. has a 12 month low of $14.60 and a 12 month high of $18.18. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 79.05, a PEG ratio of 1.78 and a beta of 0.96. The stock’s 50 day moving average price is $16.24 and its 200 day moving average price is $16.43.

Independence Realty Trust (NYSE:IRT) last issued 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. 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 during the quarter, compared to analyst estimates of $166.35 million. During the same period last year, the company posted $0.27 EPS. The firm’s quarterly 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, sell-side analysts expect that Independence Realty Trust, Inc. will post 1.14 EPS for the current year.

Independence Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, June 26th. This is an increase from Independence Realty Trust’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 4.6%. Independence Realty Trust’s dividend payout ratio is presently 340.00%.

Analyst Ratings Changes

Several brokerages have weighed in on IRT. Wells Fargo & Company lifted their target price on Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Wall Street Zen cut Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. UBS Group lowered their price target on Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Zacks Research upgraded shares of Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Finally, Weiss Ratings downgraded shares of Independence Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 4th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Independence Realty Trust presently 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.