Independence Realty Trust, Inc. $IRT Shares Sold by Berger Financial Group Inc

Berger Financial Group Inc reduced its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 39.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 142,632 shares of the real estate investment trust’s stock after selling 91,213 shares during the period. Berger Financial Group Inc’s holdings in Independence Realty Trust were worth $2,124,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IRT. Engineers Gate Manager LP raised its position in shares of Independence Realty Trust by 16,719.4% during the 4th quarter. Engineers Gate Manager LP now owns 4,299,707 shares of the real estate investment trust’s stock worth $75,159,000 after acquiring an additional 4,274,143 shares in the last quarter. Morgan Stanley increased its stake in Independence Realty Trust by 209.5% in the fourth quarter. Morgan Stanley now owns 5,649,829 shares of the real estate investment trust’s stock valued at $98,759,000 after purchasing an additional 3,824,512 shares during the last quarter. Franklin Resources Inc. raised its holdings in Independence Realty Trust by 1,435.4% during the third quarter. Franklin Resources Inc. now owns 3,827,503 shares of the real estate investment trust’s stock worth $62,733,000 after purchasing an additional 3,578,221 shares in the last quarter. Norges Bank purchased a new stake in shares of Independence Realty Trust during the 4th quarter worth approximately $52,122,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Independence Realty Trust during the 2nd quarter worth approximately $30,368,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

NYSE IRT opened at $17.30 on Friday. The firm has a market cap of $4.08 billion, a PE ratio of 86.52, a P/E/G ratio of 1.93 and a beta of 0.95. Independence Realty Trust, Inc. has a one year low of $14.60 and a one year high of $18.18. The firm’s fifty day moving average is $16.46 and its two-hundred day moving average is $16.42.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $166.35 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. Research analysts predict that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current year.

Independence Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.2%. 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. Independence Realty Trust’s payout ratio is 360.00%.

Analyst Upgrades and Downgrades

IRT has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Weiss Ratings cut shares of Independence Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 4th. 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. Jefferies Financial Group raised Independence Realty Trust to a “strong-buy” rating in a report on Friday, June 26th. Finally, Barclays lifted their target price on Independence Realty Trust from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.06.

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.