Dockside LLC Makes New $1.08 Million Investment in Independence Realty Trust, Inc. $IRT

Dockside LLC bought a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 61,874 shares of the real estate investment trust’s stock, valued at approximately $1,082,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Solstein Capital LLC bought a new position in Independence Realty Trust during the 3rd quarter worth about $25,000. Danske Bank A S bought a new position in Independence Realty Trust during the 3rd quarter worth about $26,000. Farther Finance Advisors LLC grew its holdings in Independence Realty Trust by 70.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 747 shares in the last quarter. Huntington National Bank grew its holdings in 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 worth $38,000 after acquiring an additional 725 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Independence Realty Trust by 97.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,875 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 1,422 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on IRT shares. Barclays increased 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. UBS Group decreased their price target on shares of 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. Wells Fargo & Company increased 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. Zacks Research raised shares of Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. Finally, Wall Street Zen lowered shares of Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Independence Realty Trust has a consensus rating of “Hold” and a consensus target price of $20.06.

Independence Realty Trust Stock Performance

IRT stock opened at $16.85 on Monday. The firm 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 has a 50-day simple moving average of $16.15 and a two-hundred day simple moving average of $16.46. Independence Realty Trust, Inc. has a one year low of $14.60 and a one year high of $18.47.

Independence Realty Trust (NYSE:IRT) last released 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 business had revenue of $165.32 million during 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 company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 earnings per share. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. As a group, equities 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. Investors of record on Friday, June 26th will be paid a $0.18 dividend. This is a boost from Independence Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, June 26th. This represents a $0.72 dividend on an annualized basis and a yield of 4.3%. Independence Realty Trust’s dividend payout ratio (DPR) is 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.