Brokerages Set Independence Realty Trust, Inc. (NYSE:IRT) PT at $19.72

Independence Realty Trust, Inc. (NYSE:IRT) has earned an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $19.7222.

A number of research firms have weighed in on IRT. Citigroup restated a “market outperform” rating on shares of Independence Realty Trust in a research report on Thursday, September 10th. Wall Street Zen upgraded shares of Independence Realty Trust from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. UBS Group cut their price objective on shares of Independence Realty Trust from $19.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, September 15th. Finally, Barclays upgraded Independence Realty Trust from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $20.00 in a report on Tuesday, July 14th.

Independence Realty Trust Price Performance

Shares of NYSE IRT opened at $14.78 on Wednesday. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 82.11 and a beta of 0.93. Independence Realty Trust has a 12 month low of $14.60 and a 12 month high of $17.79. The firm’s 50 day simple moving average is $16.29 and its 200-day simple moving average is $16.20.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.26). Independence Realty Trust had a net margin of 6.52% and a return on equity of 1.22%. The firm had revenue of $167.24 million for the quarter, compared to analyst estimates of $166.93 million. During the same quarter in the prior year, the business posted $0.28 EPS. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. Analysts anticipate that Independence Realty Trust will post 1.14 earnings per share for the current fiscal year.

Independence Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Wednesday, September 30th will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.72 dividend on an annualized basis and a yield of 4.9%. Independence Realty Trust’s dividend payout ratio (DPR) is presently 400.00%.

Institutional Trading of Independence Realty Trust

Several large investors have recently added to or reduced their stakes in IRT. SHP Wealth Management purchased a new position in shares of Independence Realty Trust during the fourth quarter worth $30,000. Sunbelt Securities Inc. raised its holdings in shares of Independence Realty Trust by 84.4% in the 1st quarter. Sunbelt Securities Inc. now owns 3,550 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 1,625 shares during the period. Assetmark Inc. lifted its stake in Independence Realty Trust by 73.2% during the 1st quarter. Assetmark Inc. now owns 3,630 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 1,534 shares in the last quarter. State of Wyoming acquired a new position in Independence Realty Trust during the 1st quarter worth about $62,000. Finally, Nykredit A S purchased a new position in Independence Realty Trust during the 2nd quarter valued at about $72,000. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Independence Realty Trust Company Profile

Independence Realty Trust, Inc is a self-administered and self-managed real estate investment trust that owns, operates and acquires multifamily apartment communities. The company generates revenue primarily from residential rents and related fees, while focusing on providing housing in markets with favorable population and employment trends.

Independence Realty Trust’s portfolio is concentrated primarily in the Sun Belt and other high-growth regions of the United States. Its communities serve a range of renters and typically include amenities such as swimming pools, fitness centers, clubhouses and outdoor recreation areas.