Independence Realty Trust, Inc. $IRT Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP grew its position in Independence Realty Trust, Inc. (NYSE:IRT) by 660.3% in the first quarter, Holdings Channel.com reports. The fund owned 318,941 shares of the real estate investment trust’s stock after buying an additional 276,994 shares during the period. Quantinno Capital Management LP’s holdings in Independence Realty Trust were worth $4,749,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Independence Realty Trust by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 33,235,002 shares of the real estate investment trust’s stock worth $580,948,000 after purchasing an additional 250,549 shares during the last quarter. State Street Corp increased its stake in Independence Realty Trust by 0.6% during the fourth quarter. State Street Corp now owns 13,074,813 shares of the real estate investment trust’s stock valued at $230,705,000 after purchasing an additional 76,635 shares during the last quarter. Alliancebernstein L.P. increased its stake in Independence Realty Trust by 0.3% during the second quarter. Alliancebernstein L.P. now owns 9,139,506 shares of the real estate investment trust’s stock valued at $161,678,000 after purchasing an additional 30,701 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Independence Realty Trust by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 6,445,967 shares of the real estate investment trust’s stock worth $112,690,000 after purchasing an additional 148,449 shares during the period. Finally, Morgan Stanley raised its holdings in shares of Independence Realty Trust by 209.5% during the fourth quarter. Morgan Stanley now owns 5,649,829 shares of the real estate investment trust’s stock worth $98,759,000 after purchasing an additional 3,824,512 shares during the period. 88.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Barclays upgraded shares of Independence Realty Trust from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $19.00 to $20.00 in a research note on Tuesday, July 14th. Wells Fargo & Company lifted their target price on Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. UBS Group dropped their price target on Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Jefferies Financial Group raised Independence Realty Trust to a “strong-buy” rating in a report on Wednesday, July 22nd. Finally, Wall Street Zen lowered Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. One research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.56.

Independence Realty Trust Stock Down 0.6%

IRT stock opened at $17.00 on Friday. The company has a market capitalization of $4.01 billion, a P/E ratio of 94.42 and a beta of 0.94. The company has a 50-day simple moving average of $16.64 and a 200 day simple moving average of $16.33. 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 announced its earnings results on Monday, August 3rd. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.26). The company had revenue of $167.24 million during the quarter, compared to the consensus estimate of $166.93 million. Independence Realty Trust had a net margin of 6.52% and a return on equity of 1.22%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. Equities analysts anticipate that Independence Realty Trust, Inc. will post 1.14 EPS for the current year.

Independence Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.2%. This is a boost from Independence Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, June 26th. Independence Realty Trust’s payout ratio is 400.00%.

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.