Sei Investments Co. Acquires 49,088 Shares of Independence Realty Trust, Inc. $IRT

Sei Investments Co. increased its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 19.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 298,589 shares of the real estate investment trust’s stock after buying an additional 49,088 shares during the period. Sei Investments Co.’s holdings in Independence Realty Trust were worth $4,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Independence Realty Trust by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,445,967 shares of the real estate investment trust’s stock worth $112,690,000 after acquiring an additional 148,449 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of 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 in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Independence Realty Trust by 1,767.5% in the 4th quarter. Teacher Retirement System of Texas now owns 571,568 shares of the real estate investment trust’s stock valued at $9,991,000 after acquiring an additional 540,962 shares during the last quarter. Vanderbilt University acquired a new stake in shares of Independence Realty Trust during the 1st quarter valued at $1,572,000. Finally, Dimensional Fund Advisors LP grew its position in Independence Realty Trust by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,473,797 shares of the real estate investment trust’s stock worth $51,725,000 after acquiring an additional 134,364 shares during the last quarter. Institutional investors own 88.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on IRT. UBS Group dropped their target price on Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Weiss Ratings upgraded shares of Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 6th. Wells Fargo & Company boosted their price objective on Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Royal Bank Of Canada increased their target price on shares of Independence Realty Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Jefferies Financial Group upgraded Independence Realty Trust to a “strong-buy” rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.56.

Independence Realty Trust Stock Up 0.2%

Shares of Independence Realty Trust stock opened at $17.10 on Thursday. Independence Realty Trust, Inc. has a 52 week low of $14.60 and a 52 week high of $18.18. The company has a market cap of $4.03 billion, a PE ratio of 95.01 and a beta of 0.94. The business has a 50 day moving average price of $16.63 and a 200-day moving average price of $16.33.

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 analysts’ consensus estimates of $0.27 by ($0.26). Independence Realty Trust had a return on equity of 1.22% and a net margin of 6.52%.The firm had revenue of $167.24 million during the quarter, compared to the consensus estimate of $166.93 million. During the same period in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. As a group, research analysts anticipate that Independence Realty Trust, Inc. will post 1.14 EPS for the current year.

Independence Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.2%. This is a boost 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 is 400.00%.

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.