Independence Realty Trust, Inc. $IRT Shares Sold by Bard Associates Inc.

Bard Associates Inc. cut its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 62.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,496 shares of the real estate investment trust’s stock after selling 45,160 shares during the quarter. Bard Associates Inc.’s holdings in Independence Realty Trust were worth $485,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of IRT. Solstein Capital LLC acquired a new position in Independence Realty Trust in the third quarter valued at $25,000. Danske Bank A S acquired a new position in Independence Realty Trust in the third quarter valued at $26,000. Farther Finance Advisors LLC increased its stake 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 stake 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, Smartleaf Asset Management LLC increased its stake in Independence Realty Trust by 97.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,875 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 1,422 shares during the period. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on IRT. 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. UBS Group dropped their price objective on shares of Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Wells Fargo & Company lifted their target price on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Barclays lifted their target price 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. Finally, Zacks Research raised shares of Independence Realty Trust from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.06.

Independence Realty Trust Stock Up 0.7%

Shares of NYSE:IRT opened at $16.85 on Friday. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 84.23, a PEG ratio of 1.88 and a beta of 0.96. The firm’s 50-day simple moving average is $16.15 and its 200-day simple moving average is $16.46. Independence Realty Trust, Inc. has a fifty-two week low of $14.60 and a fifty-two week high of $18.47.

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 the consensus estimate of $0.03 by $0.23. The business had revenue of $165.32 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. On average, research analysts forecast that Independence Realty Trust, Inc. will post 1.14 EPS for the current year.

Independence Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be issued 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 4.3%. Independence Realty Trust’s payout ratio is presently 360.00%.

About Independence Realty Trust

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.