Independence Realty Trust, Inc. (NYSE:IRT) Given Consensus Recommendation of “Hold” by Analysts

Independence Realty Trust, Inc. (NYSE:IRT) has been given a consensus rating of “Hold” by the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $20.0625.

Several equities research analysts have issued reports on IRT shares. UBS Group dropped their price objective on Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Wells Fargo & Company increased their target price 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. Weiss Ratings downgraded shares of Independence Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report 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. Finally, Wall Street Zen cut shares of Independence Realty Trust from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd.

Hedge Funds Weigh In On Independence Realty Trust

Several large investors have recently modified their holdings of IRT. Solstein Capital LLC bought a new stake in Independence Realty Trust in the third quarter valued at about $25,000. Danske Bank A S acquired a new position in shares of Independence Realty Trust in the 3rd quarter worth approximately $26,000. SHP Wealth Management acquired a new position in shares of Independence Realty Trust in the 4th quarter worth approximately $30,000. Farther Finance Advisors LLC increased its holdings in shares of Independence Realty Trust by 70.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 747 shares during the last quarter. Finally, Huntington National Bank increased its holdings in shares of Independence Realty Trust by 46.4% in the 3rd quarter. Huntington National Bank now owns 2,289 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 725 shares during the last quarter. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Shares of IRT stock opened at $16.85 on Monday. Independence Realty Trust has a 12 month low of $14.60 and a 12 month high of $18.47. The firm has a market capitalization of $3.97 billion, a P/E ratio of 84.23, a P/E/G ratio of 1.88 and a beta of 0.96. The company’s fifty day moving average price is $16.15 and its two-hundred day moving average price is $16.46.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share for the quarter, beating 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 company had revenue of $165.32 million during the quarter, compared to analysts’ expectations of $166.35 million. During the same period in the prior year, the company posted $0.27 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. On average, sell-side analysts anticipate that Independence Realty Trust will post 1.14 EPS for the current year.

Independence Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be paid a $0.18 dividend. This is a boost from Independence Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, June 26th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.3%. Independence Realty Trust’s dividend payout ratio (DPR) is currently 340.00%.

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.