61,874 Shares in Independence Realty Trust, Inc. $IRT Acquired by Dockside LLC

Dockside LLC bought a new position in Independence Realty Trust, Inc. (NYSE:IRT) in the fourth quarter, Holdings Channel reports. The firm bought 61,874 shares of the real estate investment trust’s stock, valued at approximately $1,082,000.

A number of other institutional investors also recently bought and sold shares of IRT. Solstein Capital LLC acquired a new stake in Independence Realty Trust in the 3rd quarter worth approximately $25,000. Danske Bank A S acquired a new stake in Independence Realty Trust in the 3rd quarter worth approximately $26,000. Farther Finance Advisors LLC boosted its stake 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 worth $32,000 after purchasing an additional 747 shares in the last quarter. Huntington National Bank boosted its stake in Independence Realty Trust by 46.4% in 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 in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake 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 worth $51,000 after purchasing an additional 1,422 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Independence Realty Trust Trading Down 0.1%

Shares of NYSE IRT opened at $16.85 on Monday. Independence Realty Trust, Inc. has a 12 month low of $14.60 and a 12 month high of $18.47. The company has a 50 day simple moving average of $16.15 and a two-hundred day simple moving average of $16.46. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 84.23, a PEG ratio of 1.88 and a beta of 0.96.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.26 EPS for the quarter, beating the consensus estimate of $0.03 by $0.23. Independence Realty Trust had a net margin of 7.27% and a return on equity of 1.35%. The business had revenue of $165.32 million during the quarter, compared to analysts’ expectations of $166.35 million. During the same period in the previous year, the business posted $0.27 EPS. The business’s quarterly 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. Analysts forecast 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. Stockholders of record on Friday, June 26th will be issued a dividend of $0.18 per share. This is a positive change from Independence Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.72 annualized dividend and a dividend yield of 4.3%. Independence Realty Trust’s payout ratio is presently 340.00%.

Wall Street Analyst Weigh In

IRT has been the subject of a number of recent analyst reports. 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. Barclays lifted their price objective on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. UBS Group decreased 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. Weiss Ratings cut shares of Independence Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 4th. Finally, Wall Street Zen cut shares of Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.