Jennison Associates LLC Sells 1,438,455 Shares of Independence Realty Trust, Inc. $IRT

Jennison Associates LLC cut its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 31.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,165,032 shares of the real estate investment trust’s stock after selling 1,438,455 shares during the period. Jennison Associates LLC’s holdings in Independence Realty Trust were worth $47,127,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. IFM Investors Pty Ltd increased its stake in Independence Realty Trust by 1.6% in the 4th quarter. IFM Investors Pty Ltd now owns 38,532 shares of the real estate investment trust’s stock valued at $674,000 after buying an additional 607 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of 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 buying an additional 676 shares during the last quarter. CWM LLC grew its holdings 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 acquiring an additional 712 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Independence Realty Trust by 70.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 747 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Independence Realty Trust by 1.1% in the second quarter. American Century Companies Inc. now owns 70,678 shares of the real estate investment trust’s stock valued at $1,250,000 after acquiring an additional 789 shares during the last quarter. Institutional investors own 88.25% of the company’s stock.

Analyst Ratings Changes

IRT has been the subject of several recent research reports. Jefferies Financial Group raised Independence Realty Trust to a “strong-buy” rating in a research report on Friday, June 26th. UBS Group lowered their price target on 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. Zacks Research raised Independence Realty Trust from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Weiss Ratings raised shares of Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 6th. Finally, Wall Street Zen cut shares of Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.19.

Independence Realty Trust Trading Down 0.6%

IRT stock opened at $16.52 on Tuesday. The firm has a market capitalization of $3.90 billion, a PE ratio of 82.62, a PEG ratio of 1.85 and a beta of 0.95. Independence Realty Trust, Inc. has a 1-year low of $14.60 and a 1-year high of $18.18. The business’s 50 day simple moving average is $16.59 and its 200 day simple moving average is $16.38.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.23. Independence Realty Trust had a return on equity of 1.35% and a net margin of 7.27%.The business had revenue of $165.32 million for the quarter, compared to analysts’ expectations of $166.35 million. During the same quarter in the prior year, the business earned $0.27 EPS. The firm’s revenue for the quarter 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. As a group, sell-side analysts predict that Independence Realty Trust, Inc. will post 1.14 EPS for the current fiscal year.

Independence Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were given a $0.18 dividend. The ex-dividend date of this dividend was 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 currently 360.00%.

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.