Independence Realty Trust, Inc. $IRT Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 21.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,630 shares of the real estate investment trust’s stock after acquiring an additional 30,001 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.07% of Independence Realty Trust worth $2,496,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Danske Bank A S acquired a new stake in Independence Realty Trust in the third quarter valued at $26,000. SHP Wealth Management purchased a new position in shares of Independence Realty Trust in the fourth quarter valued at $30,000. Farther Finance Advisors LLC raised its stake in shares of 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 buying an additional 747 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of 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 buying an additional 1,422 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Independence Realty Trust by 1,420.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,329 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 3,110 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Up 2.9%

Shares of NYSE:IRT opened at $16.94 on Friday. The company has a market capitalization of $3.99 billion, a P/E ratio of 84.70, a P/E/G ratio of 1.84 and a beta of 0.95. Independence Realty Trust, Inc. has a 52-week low of $14.60 and a 52-week high of $18.18. The stock’s fifty day simple moving average is $16.58 and its 200-day simple moving average is $16.40.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.23. The firm had revenue of $165.32 million during the quarter, compared to analysts’ expectations of $166.35 million. Independence Realty Trust had a return on equity of 1.35% and a net margin of 7.27%.The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. On average, sell-side analysts anticipate that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current year.

Independence Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.3%. This is a boost from Independence Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, June 26th. Independence Realty Trust’s payout ratio is presently 360.00%.

Wall Street Analysts Forecast Growth

IRT has been the topic of a number of research reports. Wells Fargo & Company increased their price objective on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. 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. Zacks Research raised shares of Independence Realty Trust from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. UBS Group reduced their price target on shares of Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Finally, Weiss Ratings upgraded shares of Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.19.

Independence Realty Trust Company 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.