Easterly Investment Partners LLC Reduces Position in Independence Realty Trust, Inc. $IRT

Easterly Investment Partners LLC cut its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 94.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,509 shares of the real estate investment trust’s stock after selling 651,068 shares during the period. Easterly Investment Partners LLC’s holdings in Independence Realty Trust were worth $638,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. NewEdge Advisors LLC bought a new position in Independence Realty Trust in the first quarter valued at about $209,000. Goldman Sachs Group Inc. lifted its holdings in Independence Realty Trust by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,935,487 shares of the real estate investment trust’s stock valued at $62,320,000 after acquiring an additional 420,682 shares during the period. American Century Companies Inc. lifted its holdings in Independence Realty Trust by 1.1% in the second quarter. American Century Companies Inc. now owns 70,678 shares of the real estate investment trust’s stock valued at $1,250,000 after acquiring an additional 789 shares during the period. Invesco Ltd. lifted its holdings in Independence Realty Trust by 13.0% in the second quarter. Invesco Ltd. now owns 1,139,216 shares of the real estate investment trust’s stock valued at $20,153,000 after acquiring an additional 131,444 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Independence Realty Trust by 63.3% in the second quarter. First Trust Advisors LP now owns 196,463 shares of the real estate investment trust’s stock valued at $3,475,000 after acquiring an additional 76,147 shares during the period. 88.25% of the stock is owned by hedge funds and other institutional investors.

Independence Realty Trust Price Performance

NYSE IRT opened at $15.88 on Tuesday. The stock has a market capitalization of $3.74 billion, a PE ratio of 79.39, a P/E/G ratio of 1.81 and a beta of 0.98. The business has a 50 day simple moving average of $15.85 and a two-hundred day simple moving average of $16.46. Independence Realty Trust, Inc. has a 1-year low of $14.60 and a 1-year high of $18.74.

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, beating the consensus estimate of $0.03 by $0.23. The business had revenue of $165.32 million during the quarter, compared to analysts’ expectations of $166.35 million. Independence Realty Trust had a return on equity of 1.35% and a net margin of 7.27%.The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. On average, analysts anticipate that Independence Realty Trust, Inc. will post 1.14 EPS for the current fiscal year.

Independence Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.5%. This is an increase from Independence Realty Trust’s previous quarterly dividend of $0.17. Independence Realty Trust’s dividend payout ratio is 360.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on IRT shares. Wall Street Zen downgraded Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Weiss Ratings raised Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 20th. Wells Fargo & Company raised 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. Barclays raised their price objective on 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. Finally, Zacks Research raised Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.06.

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.