Independence Realty Trust (NYSE:IRT) Releases Earnings Results, Misses Estimates By $0.26 EPS

Independence Realty Trust (NYSE:IRT) released its quarterly earnings data on Monday. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.26), FiscalAI reports. The company had revenue of $167.24 million during the quarter, compared to analysts’ expectations of $166.93 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 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 EPS. Independence Realty Trust updated its FY 2026 guidance to 1.130-1.150 EPS.

Independence Realty Trust Trading Up 0.8%

Shares of Independence Realty Trust stock opened at $16.76 on Tuesday. The company’s fifty day simple moving average is $16.61 and its two-hundred day simple moving average is $16.33. The company has a market cap of $3.95 billion, a P/E ratio of 83.80 and a beta of 0.94. Independence Realty Trust has a 12-month low of $14.60 and a 12-month high of $18.18.

Independence Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.3%. This is an increase from Independence Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, June 26th. Independence Realty Trust’s dividend payout ratio (DPR) is presently 360.00%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IRT. Weiss Ratings upgraded Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 6th. 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. Wells Fargo & Company boosted 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 report on Monday, June 1st. Jefferies Financial Group upgraded shares of Independence Realty Trust to a “strong-buy” rating in a report on Wednesday, July 22nd. Finally, UBS Group cut their target price on Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.64.

Institutional Investors Weigh In On Independence Realty Trust

A number of large investors have recently modified their holdings of the stock. Invesco Ltd. increased its position in shares of Independence Realty Trust by 12.5% during the fourth quarter. Invesco Ltd. now owns 1,373,606 shares of the real estate investment trust’s stock valued at $24,011,000 after buying an additional 152,586 shares during the period. Alberta Investment Management Corp bought a new stake in Independence Realty Trust during the 4th quarter valued at approximately $1,498,000. Mercer Global Advisors Inc. ADV boosted its position in Independence Realty Trust by 36.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 28,952 shares of the real estate investment trust’s stock valued at $506,000 after acquiring an additional 7,741 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Independence Realty Trust during the 4th quarter worth approximately $250,000. Finally, XTX Topco Ltd grew its holdings in shares of Independence Realty Trust by 7.3% during the 4th quarter. XTX Topco Ltd now owns 110,632 shares of the real estate investment trust’s stock worth $1,934,000 after acquiring an additional 7,500 shares during the period. Institutional investors own 88.25% of the company’s stock.

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.