SG Americas Securities LLC Acquires 49,465 Shares of Independence Realty Trust, Inc. $IRT

SG Americas Securities LLC grew its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 111.5% in the first quarter, HoldingsChannel reports. The fund owned 93,832 shares of the real estate investment trust’s stock after purchasing an additional 49,465 shares during the quarter. SG Americas Securities LLC’s holdings in Independence Realty Trust were worth $1,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of IRT. Solstein Capital LLC bought a new position in Independence Realty Trust in the 3rd quarter worth $25,000. Danske Bank A S bought a new stake in Independence Realty Trust during the third quarter valued at about $26,000. SHP Wealth Management bought a new stake in Independence Realty Trust during the fourth quarter valued at about $30,000. Farther Finance Advisors LLC grew its holdings in Independence Realty Trust by 70.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 747 shares during the period. Finally, Huntington National Bank increased its position in Independence Realty Trust by 46.4% in the third quarter. Huntington National Bank now owns 2,289 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 725 shares in the last quarter. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Independence Realty Trust Stock Performance

Shares of Independence Realty Trust stock opened at $17.30 on Friday. Independence Realty Trust, Inc. has a fifty-two week low of $14.60 and a fifty-two week high of $18.18. The company has a market capitalization of $4.08 billion, a P/E ratio of 86.52, a P/E/G ratio of 1.93 and a beta of 0.95. The company has a fifty day moving average of $16.46 and a 200 day moving average of $16.42.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 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 business had revenue of $165.32 million for the quarter, compared to analysts’ expectations of $166.35 million. During the same period last year, the firm earned $0.27 earnings per share. The business’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. Analysts forecast that Independence Realty Trust, Inc. will post 1.14 EPS for the current year.

Independence Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be given a dividend of $0.18 per share. This is an increase from Independence Realty Trust’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, June 26th. Independence Realty Trust’s dividend payout ratio (DPR) is 360.00%.

Analyst Ratings Changes

Several research firms have recently commented on IRT. Weiss Ratings downgraded Independence Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 4th. Jefferies Financial Group upgraded Independence Realty Trust to a “strong-buy” rating in a research note on Friday, June 26th. Wall Street Zen downgraded Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Wells Fargo & Company increased their target price on shares of Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Finally, UBS Group decreased their target price on shares of Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Independence Realty Trust currently has an average rating of “Moderate Buy” and an average target price of $20.06.

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.