Independence Realty Trust, Inc. $IRT Shares Bought by Legal & General Group Plc

Legal & General Group Plc lifted its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 9.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,427,502 shares of the real estate investment trust’s stock after purchasing an additional 128,944 shares during the quarter. Legal & General Group Plc owned 0.60% of Independence Realty Trust worth $24,953,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Independence Realty Trust by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 33,235,002 shares of the real estate investment trust’s stock worth $580,948,000 after buying an additional 250,549 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of 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 acquiring an additional 30,701 shares during the period. Franklin Resources Inc. raised its holdings in Independence Realty Trust by 1,435.4% during 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 purchasing an additional 3,578,221 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Independence Realty Trust by 1.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,756,821 shares of the real estate investment trust’s stock worth $65,669,000 after purchasing an additional 45,089 shares in the last quarter. Finally, Citadel Advisors LLC raised its holdings in Independence Realty Trust by 50.8% during 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 purchasing an additional 1,170,633 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Trading Up 0.2%

Shares of NYSE IRT opened at $16.26 on Monday. Independence Realty Trust, Inc. has a one year low of $14.60 and a one year high of $18.74. The business has a 50-day moving average price of $15.85 and a two-hundred day moving average price of $16.46. The firm has a market capitalization of $3.83 billion, a PE ratio of 81.28, a PEG ratio of 1.81 and a beta of 0.96.

Independence Realty Trust (NYSE:IRT) last issued its 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. The company had revenue of $165.32 million for the quarter, compared to the consensus estimate of $166.35 million. Independence Realty Trust had a return on equity of 1.35% and a net margin of 7.27%.The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. Research 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 will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be paid a $0.18 dividend. The ex-dividend date is Friday, June 26th. This represents a $0.72 annualized dividend and a yield of 4.4%. This is a boost from Independence Realty Trust’s previous quarterly dividend of $0.17. Independence Realty Trust’s dividend payout ratio (DPR) is currently 340.00%.

Analyst Ratings Changes

Several research firms recently commented on IRT. Weiss Ratings raised shares of Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 20th. UBS Group cut their price objective on Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Wall Street Zen lowered Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Zacks Research upgraded Independence Realty Trust from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Finally, Barclays upped their target price on Independence Realty Trust from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Independence Realty Trust has a consensus rating of “Moderate Buy” and an average 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.