Independence Realty Trust, Inc. $IRT Stake Lifted by Engineers Gate Manager LP

Engineers Gate Manager LP grew its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 16,719.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,299,707 shares of the real estate investment trust’s stock after purchasing an additional 4,274,143 shares during the quarter. Independence Realty Trust accounts for 0.9% of Engineers Gate Manager LP’s investment portfolio, making the stock its 10th biggest position. Engineers Gate Manager LP owned 1.80% of Independence Realty Trust worth $75,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Solstein Capital LLC acquired a new position in shares of Independence Realty Trust during the third quarter worth about $25,000. Danske Bank A S acquired a new position in shares of Independence Realty Trust during the third quarter worth about $26,000. Farther Finance Advisors LLC lifted its stake in shares of Independence Realty Trust by 70.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 747 shares in the last quarter. Huntington National Bank lifted its stake in shares of Independence Realty Trust by 46.4% during the third quarter. Huntington National Bank now owns 2,289 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 725 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Independence Realty Trust by 97.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,875 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 1,422 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Trading Down 2.9%

IRT stock opened at $16.00 on Thursday. Independence Realty Trust, Inc. has a twelve month low of $14.60 and a twelve month high of $18.18. The company has a market capitalization of $3.77 billion, a P/E ratio of 80.00, a PEG ratio of 1.84 and a beta of 0.96. The firm has a 50 day simple moving average of $16.22 and a 200-day simple moving average of $16.44.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $166.35 million. During the same quarter last year, the company earned $0.27 earnings per share. The business’s quarterly 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. On average, research analysts predict that Independence Realty Trust, Inc. will post 1.14 EPS for the current year.

Independence Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be given a dividend of $0.18 per share. 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. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.5%. Independence Realty Trust’s dividend payout ratio is 340.00%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wells Fargo & Company boosted their price objective on Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Weiss Ratings downgraded shares of Independence Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 4th. Barclays lifted their price target on shares of Independence Realty Trust from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Finally, Zacks Research raised shares of Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.06.

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.