90,577 Shares in Independence Realty Trust, Inc. $IRT Bought by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC bought a new stake in Independence Realty Trust, Inc. (NYSE:IRT) during the 4th quarter, HoldingsChannel reports. The firm bought 90,577 shares of the real estate investment trust’s stock, valued at approximately $1,583,000.

Other institutional investors have also bought and sold shares of the company. Global Retirement Partners LLC grew its holdings in Independence Realty Trust by 15.9% during the 4th quarter. Global Retirement Partners LLC now owns 4,921 shares of the real estate investment trust’s stock worth $86,000 after acquiring an additional 676 shares during the period. CWM LLC lifted its stake in shares of Independence Realty Trust by 1.8% in the 4th quarter. CWM LLC now owns 39,365 shares of the real estate investment trust’s stock valued at $688,000 after purchasing an additional 712 shares during the period. Huntington National Bank boosted its position in shares of Independence Realty Trust by 46.4% during the 3rd 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 in the last quarter. Farther Finance Advisors LLC grew its stake in Independence Realty Trust by 70.3% during the fourth 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. Finally, American Century Companies Inc. grew its stake in Independence Realty Trust by 1.1% during the second quarter. American Century Companies Inc. now owns 70,678 shares of the real estate investment trust’s stock worth $1,250,000 after purchasing an additional 789 shares during the period. Institutional investors own 88.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on IRT shares. Barclays boosted their price target on Independence Realty Trust from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Zacks Research upgraded shares of Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. UBS Group dropped their target price 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 increased their target price on shares of Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Wall Street Zen cut shares of Independence Realty Trust from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Independence Realty Trust currently has an average rating of “Moderate Buy” and an average price target of $20.06.

Independence Realty Trust Stock Up 2.4%

Shares of IRT opened at $16.22 on Thursday. The business’s fifty day moving average is $15.89 and its 200 day 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. The stock has a market cap of $3.82 billion, a P/E ratio of 81.08, a P/E/G ratio of 1.77 and a beta of 0.96.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 EPS for the quarter, beating analysts’ consensus estimates 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 in the previous year, the business posted $0.27 EPS. Independence Realty Trust’s quarterly revenue was up 2.7% on a year-over-year basis. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. On average, analysts expect that Independence Realty Trust, Inc. will post 1.14 EPS for the current year.

Independence Realty Trust Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, June 26th. This is a boost 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 presently 340.00%.

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.