California State Teachers Retirement System Has $4.15 Million Stake in Independence Realty Trust, Inc. $IRT

California State Teachers Retirement System raised its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 26.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 278,649 shares of the real estate investment trust’s stock after acquiring an additional 58,584 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Independence Realty Trust worth $4,149,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd lifted its stake in Independence Realty Trust by 1.6% in the fourth quarter. IFM Investors Pty Ltd now owns 38,532 shares of the real estate investment trust’s stock valued at $674,000 after purchasing an additional 607 shares during the last quarter. Global Retirement Partners LLC grew its position in Independence Realty Trust by 15.9% in the fourth quarter. Global Retirement Partners LLC now owns 4,921 shares of the real estate investment trust’s stock worth $86,000 after acquiring an additional 676 shares in the last quarter. CWM LLC grew its position in Independence Realty Trust by 1.8% during the fourth quarter. CWM LLC now owns 39,365 shares of the real estate investment trust’s stock valued at $688,000 after acquiring an additional 712 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Independence Realty Trust by 70.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 747 shares during the period. Finally, American Century Companies Inc. raised its holdings in Independence Realty Trust by 1.1% during the 2nd quarter. American Century Companies Inc. now owns 70,678 shares of the real estate investment trust’s stock valued at $1,250,000 after buying an additional 789 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Stock Performance

IRT stock opened at $17.23 on Friday. Independence Realty Trust, Inc. has a one year low of $14.60 and a one year high of $18.18. The firm has a 50-day simple moving average of $16.66 and a two-hundred day simple moving average of $16.33. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 95.75 and a beta of 0.94.

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 analysts’ consensus estimates 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 business had revenue of $167.24 million during the quarter, compared to analysts’ expectations of $166.93 million. During the same quarter last year, the business posted $0.28 earnings per share. The company’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. As a group, equities analysts predict that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current fiscal year.

Independence Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were paid a $0.18 dividend. The ex-dividend date was Friday, June 26th. This represents a $0.72 annualized dividend and a dividend yield of 4.2%. This is a boost from Independence Realty Trust’s previous quarterly dividend of $0.17. Independence Realty Trust’s dividend payout ratio (DPR) is presently 400.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays upgraded Independence Realty Trust from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $19.00 to $20.00 in a research report on Tuesday, July 14th. Jefferies Financial Group raised shares of Independence Realty Trust to a “strong-buy” rating in a report on Wednesday, July 22nd. UBS Group dropped their target price on shares of 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. Finally, Wall Street Zen lowered Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. 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. According to data from MarketBeat, Independence Realty Trust presently has an average rating of “Moderate Buy” and a consensus price target of $19.56.

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.