Strs Ohio Sells 330,400 Shares of Independence Realty Trust, Inc. $IRT

Strs Ohio lowered its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 62.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,800 shares of the real estate investment trust’s stock after selling 330,400 shares during the quarter. Strs Ohio owned approximately 0.08% of Independence Realty Trust worth $2,901,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Inspire Investing LLC lifted its holdings in Independence Realty Trust by 29.4% in the 1st quarter. Inspire Investing LLC now owns 34,740 shares of the real estate investment trust’s stock worth $517,000 after purchasing an additional 7,887 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in Independence Realty Trust by 8.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 38,332 shares of the real estate investment trust’s stock valued at $571,000 after buying an additional 2,841 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Independence Realty Trust during the first quarter valued at approximately $1,023,000. Vanderbilt University bought a new stake in shares of Independence Realty Trust during the first quarter valued at approximately $1,572,000. Finally, SG Americas Securities LLC raised its position in shares of Independence Realty Trust by 111.5% during the first quarter. SG Americas Securities LLC now owns 93,832 shares of the real estate investment trust’s stock valued at $1,397,000 after buying an additional 49,465 shares during the last quarter. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

Shares of IRT traded up $0.41 during mid-day trading on Tuesday, hitting $17.56. 125,775 shares of the stock were exchanged, compared to its average volume of 2,769,498. The company has a market cap of $4.14 billion, a PE ratio of 87.70, a price-to-earnings-growth ratio of 1.93 and a beta of 0.95. Independence Realty Trust, Inc. has a 52-week low of $14.60 and a 52-week high of $18.18. The firm has a 50-day moving average of $16.49 and a two-hundred day moving average of $16.42.

Independence Realty Trust (NYSE:IRT) last posted its earnings results 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. The firm had revenue of $165.32 million during the quarter, compared to analyst estimates of $166.35 million. Independence Realty Trust had a net margin of 7.27% and a return on equity of 1.35%. Independence Realty Trust’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. On average, sell-side analysts predict that Independence Realty Trust, Inc. will post 1.14 EPS for the current year.

Independence Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be issued 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 4.1%. Independence Realty Trust’s payout ratio is presently 360.00%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Zacks Research upgraded shares of Independence Realty Trust from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Jefferies Financial Group upgraded shares of Independence Realty Trust to a “strong-buy” rating in a research note on Friday, June 26th. Barclays increased their price objective on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Finally, Wells Fargo & Company raised their price objective on Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.06.

Independence Realty Trust 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.