World Investment Advisors Takes Position in Independence Realty Trust, Inc. $IRT

World Investment Advisors acquired a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 41,894 shares of the real estate investment trust’s stock, valued at approximately $732,000.

Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Independence Realty Trust by 6.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,106,225 shares of the real estate investment trust’s stock worth $34,521,000 after acquiring an additional 123,274 shares during the last quarter. Argosy Lionbridge Management LLC acquired a new position in shares of Independence Realty Trust during the 3rd quarter valued at about $12,209,000. Hantz Financial Services Inc. grew its holdings in shares of Independence Realty Trust by 3,483.0% in the third quarter. Hantz Financial Services Inc. now owns 66,967 shares of the real estate investment trust’s stock valued at $1,098,000 after purchasing an additional 65,098 shares during the period. Vanguard Group Inc. grew its holdings in shares of Independence Realty Trust by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 33,235,002 shares of the real estate investment trust’s stock valued at $580,948,000 after purchasing an additional 250,549 shares during the period. Finally, Teacher Retirement System of Texas increased its position in Independence Realty Trust by 1,767.5% during the fourth quarter. Teacher Retirement System of Texas now owns 571,568 shares of the real estate investment trust’s stock worth $9,991,000 after purchasing an additional 540,962 shares during the last quarter. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Independence Realty Trust Trading Up 1.7%

Shares of IRT opened at $16.27 on Tuesday. The company’s 50-day moving average price is $15.75 and its 200 day moving average price is $16.42. Independence Realty Trust, Inc. has a 12-month low of $14.60 and a 12-month high of $19.61. The firm has a market cap of $3.84 billion, a P/E ratio of 81.37, a price-to-earnings-growth ratio of 1.78 and a beta of 0.98.

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 company had revenue of $165.32 million during the quarter, compared to analyst estimates of $166.35 million. During the same quarter last year, the firm posted $0.27 earnings per share. Independence Realty Trust’s 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. Equities research analysts forecast 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. Investors 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 dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, June 26th. This is an increase from Independence Realty Trust’s previous quarterly dividend of $0.17. Independence Realty Trust’s dividend payout ratio is 340.00%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings downgraded shares of Independence Realty Trust from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Wells Fargo & Company cut their price target on shares of Independence Realty Trust from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Wall Street Zen lowered shares of Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Zacks Research upgraded Independence Realty Trust from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered Independence Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research report on Tuesday, January 20th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.94.

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.