Cbre Investment Management Listed Real Assets LLC Acquires 355,397 Shares of Independence Realty Trust, Inc. $IRT

Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 23.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,871,603 shares of the real estate investment trust’s stock after purchasing an additional 355,397 shares during the quarter. Cbre Investment Management Listed Real Assets LLC’s holdings in Independence Realty Trust were worth $32,716,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Solstein Capital LLC acquired a new stake in Independence Realty Trust during the 3rd quarter worth approximately $25,000. Danske Bank A S acquired a new stake in Independence Realty Trust during the 3rd quarter worth approximately $26,000. Farther Finance Advisors LLC lifted its holdings in 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 purchasing an additional 747 shares during the last quarter. Huntington National Bank lifted its holdings in 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 worth $38,000 after purchasing an additional 725 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings 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 purchasing an additional 3,110 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Price Performance

Shares of NYSE IRT opened at $15.88 on Tuesday. The stock has a market capitalization of $3.74 billion, a PE ratio of 79.39, a P/E/G ratio of 1.81 and a beta of 0.98. The business has a fifty day moving average price of $15.85 and a two-hundred day moving average price of $16.46. Independence Realty Trust, Inc. has a fifty-two week low of $14.60 and a fifty-two week high of $18.74.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.23. The firm had revenue of $165.32 million during the quarter, compared to analysts’ expectations of $166.35 million. Independence Realty Trust had a return on equity of 1.35% and a net margin of 7.27%.The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, June 26th. This is a positive change from Independence Realty Trust’s previous quarterly dividend of $0.17. Independence Realty Trust’s dividend payout ratio is 360.00%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays lifted their price target on Independence Realty Trust from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Wall Street Zen cut Independence Realty Trust from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. UBS Group dropped their price target 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. Weiss Ratings raised Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 20th. Finally, Wells Fargo & Company lifted their price target on Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Monday. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.06.

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.