Louisiana State Employees Retirement System Buys New Position in Independence Realty Trust, Inc. $IRT

Louisiana State Employees Retirement System bought a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 68,700 shares of the real estate investment trust’s stock, valued at approximately $1,023,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Danske Bank A S purchased a new position in shares of Independence Realty Trust in the third quarter valued at $26,000. SHP Wealth Management purchased a new stake in Independence Realty Trust in the 4th quarter worth about $30,000. Farther Finance Advisors LLC raised its position in Independence Realty Trust by 70.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 747 shares during the period. Smartleaf Asset Management LLC lifted 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 worth $51,000 after purchasing an additional 1,422 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake 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 worth $55,000 after purchasing an additional 3,110 shares during the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on IRT shares. Zacks Research raised Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. UBS Group lowered their price objective 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. Jefferies Financial Group upgraded shares of Independence Realty Trust to a “strong-buy” rating in a report on Friday, June 26th. Weiss Ratings downgraded shares of Independence Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 4th. Finally, Wall Street Zen cut shares of Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.06.

Independence Realty Trust Trading Down 0.2%

Shares of NYSE:IRT opened at $17.30 on Friday. Independence Realty Trust, Inc. has a twelve month low of $14.60 and a twelve month high of $18.18. The company has a market cap of $4.08 billion, a PE ratio of 86.52, a price-to-earnings-growth ratio of 1.93 and a beta of 0.95. The company’s 50 day moving average is $16.46 and its 200 day moving average is $16.42.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings results 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. The company had revenue of $165.32 million for the quarter, compared to analyst estimates of $166.35 million. Independence Realty Trust had a net margin of 7.27% and a return on equity of 1.35%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.27 earnings per share. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. Equities research analysts predict that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current fiscal year.

Independence Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be paid a dividend of $0.18 per share. This is an increase from Independence Realty Trust’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, June 26th. Independence Realty Trust’s dividend payout ratio is presently 360.00%.

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.