Independence Realty Trust, Inc. $IRT Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 4.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,145,635 shares of the real estate investment trust’s stock after selling 56,552 shares during the period. Fisher Asset Management LLC owned 0.48% of Independence Realty Trust worth $20,026,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Legal & General Group Plc raised its position in shares of Independence Realty Trust by 9.9% in the fourth quarter. Legal & General Group Plc now owns 1,427,502 shares of the real estate investment trust’s stock valued at $24,953,000 after buying an additional 128,944 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Independence Realty Trust by 2.2% in the fourth quarter. Hantz Financial Services Inc. now owns 68,423 shares of the real estate investment trust’s stock valued at $1,196,000 after purchasing an additional 1,456 shares during the period. Coldstream Capital Management Inc. purchased a new stake in shares of Independence Realty Trust in the fourth quarter valued at about $187,000. Global Retirement Partners LLC grew its holdings in shares of Independence Realty Trust by 15.9% in the fourth quarter. Global Retirement Partners LLC now owns 4,921 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 676 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in shares of Independence Realty Trust by 40.1% in the fourth quarter. Handelsbanken Fonder AB now owns 96,061 shares of the real estate investment trust’s stock valued at $1,679,000 after purchasing an additional 27,500 shares during the period. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Independence Realty Trust Price Performance

Shares of IRT stock opened at $16.50 on Thursday. The firm has a market cap of $3.89 billion, a PE ratio of 82.48, a price-to-earnings-growth ratio of 1.86 and a beta of 0.98. The company has a 50-day moving average of $15.83 and a two-hundred day moving average of $16.46. Independence Realty Trust, Inc. has a 1-year low of $14.60 and a 1-year high of $18.74.

Independence Realty Trust (NYSE:IRT) last posted 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 analyst estimates of $166.35 million. During the same quarter last year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter 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. Sell-side 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 disclosed 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. The ex-dividend date of this dividend is Friday, June 26th. This is a positive change from Independence Realty Trust’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 4.4%. Independence Realty Trust’s payout ratio is 340.00%.

Analyst Ratings Changes

IRT has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price objective on shares of Independence Realty Trust from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Barclays upped 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 report on Monday, May 11th. Wall Street Zen lowered shares of Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Zacks Research raised shares of Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Finally, UBS Group lowered their target price 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. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.94.

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.