Independent Financial Group LLC Purchases Shares of 48,395 Independence Realty Trust, Inc. $IRT

Independent Financial Group LLC acquired a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 48,395 shares of the real estate investment trust’s stock, valued at approximately $721,000.

A number of other institutional investors also recently made changes to their positions in IRT. Danske Bank A S bought a new position in shares of Independence Realty Trust during the third quarter worth approximately $26,000. SHP Wealth Management bought a new stake in Independence Realty Trust in the 4th quarter valued at $30,000. Farther Finance Advisors LLC grew its holdings in Independence Realty Trust by 70.3% in 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. Smartleaf Asset Management LLC grew its holdings in Independence Realty Trust by 97.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,875 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 1,422 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in Independence Realty Trust by 1,420.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,329 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 3,110 shares during the period. Institutional investors own 88.25% of the company’s stock.

Wall Street Analyst Weigh In

IRT has been the subject of a number of research reports. Jefferies Financial Group raised Independence Realty Trust to a “strong-buy” rating in a report on Friday, June 26th. Wells Fargo & Company raised their price target 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. UBS Group dropped their price objective on shares of Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Wall Street Zen downgraded shares of Independence Realty Trust from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Finally, Barclays upgraded shares of Independence Realty Trust from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $19.00 to $20.00 in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Independence Realty Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.19.

Independence Realty Trust Price Performance

Shares of NYSE IRT opened at $16.45 on Wednesday. The stock has a market capitalization of $3.88 billion, a PE ratio of 82.25, a P/E/G ratio of 1.84 and a beta of 0.95. The business has a fifty day moving average price of $16.59 and a two-hundred day moving average price of $16.38. Independence Realty Trust, Inc. has a fifty-two week low of $14.60 and a fifty-two week high of $18.18.

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 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 the consensus estimate of $166.35 million. During the same period in the prior year, the company posted $0.27 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. On average, equities 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 disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, June 26th. This is a positive change 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 4.4%. Independence Realty Trust’s dividend payout ratio is currently 360.00%.

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.