Independence Realty Trust, Inc. (NYSE:IRT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Independence Realty Trust, Inc. (NYSE:IRT) have earned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $20.0625.

A number of analysts recently weighed in on the stock. UBS Group dropped their price objective 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. Wells Fargo & Company increased their price objective on shares of Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Zacks Research raised shares of Independence Realty Trust from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. 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. Finally, Weiss Ratings cut shares of Independence Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 4th.

Hedge Funds Weigh In On Independence Realty Trust

Several large investors have recently bought and sold shares of IRT. Solstein Capital LLC acquired a new position in Independence Realty Trust during the 3rd quarter valued at about $25,000. Danske Bank A S bought a new position in shares of Independence Realty Trust during the 3rd quarter valued at about $26,000. SHP Wealth Management bought a new position in shares of Independence Realty Trust during the 4th quarter valued at about $30,000. Farther Finance Advisors LLC boosted its position 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 valued at $32,000 after purchasing an additional 747 shares in the last quarter. Finally, 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. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

Independence Realty Trust stock opened at $16.85 on Monday. The firm’s 50-day moving average is $16.15 and its 200-day moving average is $16.46. Independence Realty Trust has a 1 year low of $14.60 and a 1 year high of $18.47. The company has a market cap of $3.97 billion, a P/E ratio of 84.23, a PEG ratio of 1.87 and a beta of 0.96.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $166.35 million. During the same quarter last year, the company earned $0.27 EPS. The company’s revenue for the quarter 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. As a group, sell-side analysts predict that Independence Realty Trust will post 1.14 earnings per share for the current year.

Independence Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.3%. 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 dividend payout ratio 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.