Independence Realty Trust, Inc. (NYSE:IRT) Plans Quarterly Dividend of $0.18

Independence Realty Trust, Inc. (NYSE:IRT) declared a quarterly dividend on Tuesday, September 8th. Stockholders of record on Wednesday, September 30th will be given a dividend of 0.18 per share by the real estate investment trust on Friday, October 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Wednesday, September 30th.

Independence Realty Trust has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Independence Realty Trust has a dividend payout ratio of 248.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Independence Realty Trust to earn $1.17 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 61.5%.

Independence Realty Trust Price Performance

Shares of Independence Realty Trust stock opened at $15.94 on Wednesday. The firm’s 50-day moving average is $16.68 and its two-hundred day moving average is $16.31. Independence Realty Trust has a 1 year low of $14.60 and a 1 year high of $17.98. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 88.58 and a beta of 0.93.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.26). The business had revenue of $167.24 million for the quarter, compared to analysts’ expectations of $166.93 million. Independence Realty Trust had a net margin of 6.52% and a return on equity of 1.22%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 earnings per share. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. On average, equities analysts expect that Independence Realty Trust will post 1.14 earnings per share for the current year.

Hedge Funds Weigh In On Independence Realty Trust

A number of hedge funds have recently made changes to their positions in IRT. Quantinno Capital Management LP grew its position in shares of Independence Realty Trust by 660.3% in the first quarter. Quantinno Capital Management LP now owns 318,941 shares of the real estate investment trust’s stock valued at $4,749,000 after purchasing an additional 276,994 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Independence Realty Trust during the second quarter worth approximately $3,522,000. Geode Capital Management LLC boosted its stake in Independence Realty Trust by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 6,445,967 shares of the real estate investment trust’s stock worth $112,690,000 after buying an additional 148,449 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Independence Realty Trust by 49.2% during the first quarter. Hsbc Holdings PLC now owns 572,161 shares of the real estate investment trust’s stock worth $8,518,000 after buying an additional 188,658 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Independence Realty Trust by 28,868.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,662 shares of the real estate investment trust’s stock valued at $20,823,000 after buying an additional 1,243,355 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

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.