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

Cbre Investment Management Listed Real Assets LLC boosted its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 23.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 owned about 0.78% of Independence Realty Trust worth $32,716,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of IRT. Franklin Resources Inc. increased its holdings in shares of Independence Realty Trust by 1,435.4% in the third quarter. Franklin Resources Inc. now owns 3,827,503 shares of the real estate investment trust’s stock worth $62,733,000 after acquiring an additional 3,578,221 shares in the last quarter. Norges Bank bought a new stake in shares of Independence Realty Trust in the fourth quarter worth about $52,122,000. Balyasny Asset Management L.P. bought a new stake in shares of Independence Realty Trust in the second quarter worth about $30,368,000. Freestone Grove Partners LP bought a new stake in shares of Independence Realty Trust in the third quarter worth about $21,965,000. Finally, Citadel Advisors LLC increased its holdings in shares of Independence Realty Trust by 50.8% in the third quarter. Citadel Advisors LLC now owns 3,473,040 shares of the real estate investment trust’s stock worth $56,923,000 after acquiring an additional 1,170,633 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Stock Down 2.2%

IRT stock opened at $15.88 on Tuesday. The business has a 50 day moving average price of $15.85 and a two-hundred day moving average price of $16.46. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 79.39, a P/E/G ratio of 1.81 and a beta of 0.98. Independence Realty Trust, Inc. has a twelve month low of $14.60 and a twelve month high of $18.74.

Independence Realty Trust (NYSE:IRT) last posted its quarterly 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 last year, the company earned $0.27 earnings per share. The business’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 research analysts anticipate that Independence Realty Trust, Inc. will post 1.14 EPS for the current fiscal year.

Independence Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, June 26th. This represents a $0.72 annualized dividend and a dividend yield of 4.5%. This is an increase from Independence Realty Trust’s previous quarterly dividend of $0.17. Independence Realty Trust’s dividend payout ratio is presently 360.00%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. UBS Group lowered 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. Barclays increased their price objective 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. Wells Fargo & Company increased their price objective on Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Monday. Zacks Research upgraded Independence Realty Trust from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Finally, Wall Street Zen downgraded Independence Realty Trust from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.