Daiwa Securities Group Inc. Has $12.43 Million Stake in Independence Realty Trust, Inc. $IRT

Daiwa Securities Group Inc. boosted its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 40.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 711,275 shares of the real estate investment trust’s stock after purchasing an additional 205,506 shares during the period. Daiwa Securities Group Inc. owned about 0.30% of Independence Realty Trust worth $12,433,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Solstein Capital LLC acquired a new stake in Independence Realty Trust in the third quarter valued at $25,000. Danske Bank A S acquired a new stake in Independence Realty Trust in the third quarter valued at $26,000. Farther Finance Advisors LLC increased its holdings in Independence Realty Trust by 70.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 747 shares during the period. Huntington National Bank increased its holdings in Independence Realty Trust by 46.4% in the third quarter. Huntington National Bank now owns 2,289 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 725 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Independence Realty Trust by 1,420.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 3,329 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 3,110 shares during the period. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on IRT shares. Zacks Research upgraded Independence Realty Trust from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Weiss Ratings cut shares of Independence Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. UBS Group cut their price target on shares of 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. Wells Fargo & Company upped their price target on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Barclays upped their price target on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.06.

Independence Realty Trust Trading Up 0.5%

Shares of IRT opened at $16.63 on Friday. The stock has a market capitalization of $3.92 billion, a P/E ratio of 83.15, a price-to-earnings-growth ratio of 1.85 and a beta of 0.96. The firm’s fifty day simple moving average is $15.95 and its two-hundred day simple moving average is $16.45. Independence Realty Trust, Inc. has a 12 month low of $14.60 and a 12 month high of $18.74.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.23. The company had revenue of $165.32 million for the quarter, compared to analysts’ expectations of $166.35 million. Independence Realty Trust had a net margin of 7.27% and a return on equity of 1.35%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. As a group, research analysts predict that Independence Realty Trust, Inc. will post 1.14 EPS for the current fiscal year.

Independence Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be given a dividend of $0.18 per share. This is a boost 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 dividend on an annualized basis and a dividend yield of 4.3%. Independence Realty Trust’s payout ratio is currently 340.00%.

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.