Texas Capital Bank Wealth Management Services Inc Invests $776,000 in Independence Realty Trust, Inc. $IRT

Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 44,372 shares of the real estate investment trust’s stock, valued at approximately $776,000.

Several other institutional investors and hedge funds have also made changes to their positions in IRT. Global Retirement Partners LLC lifted 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 purchasing an additional 676 shares during the period. CWM LLC lifted its position in Independence Realty Trust by 1.8% in the fourth quarter. CWM LLC now owns 39,365 shares of the real estate investment trust’s stock worth $688,000 after purchasing an additional 712 shares during the period. Huntington National Bank lifted its position in Independence Realty Trust by 46.4% in the third quarter. Huntington National Bank now owns 2,289 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 725 shares during the period. Farther Finance Advisors LLC lifted its position in 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 purchasing an additional 747 shares during the period. Finally, American Century Companies Inc. lifted its position 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 worth $1,250,000 after purchasing an additional 789 shares during the period. 88.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IRT has been the subject of a number of research analyst reports. Barclays upped their target price on Independence Realty Trust from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Wells Fargo & Company cut their target price on Independence Realty Trust from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Wall Street Zen downgraded Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. UBS Group cut their target price on 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, Weiss Ratings upgraded Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 20th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Independence Realty Trust has a consensus rating of “Moderate Buy” and an average price target of $19.94.

Independence Realty Trust Stock Performance

NYSE IRT opened at $16.45 on Friday. The stock has a market capitalization of $3.88 billion, a P/E ratio of 82.23, a P/E/G ratio of 1.84 and a beta of 0.98. Independence Realty Trust, Inc. has a 1 year low of $14.60 and a 1 year high of $18.74. The business’s fifty day moving average is $15.84 and its two-hundred day moving average is $16.46.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.23. The company had revenue of $165.32 million for 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 was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 earnings per share. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. On average, research analysts forecast that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current year.

Independence Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be issued a $0.18 dividend. This is an increase from Independence Realty Trust’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, June 26th. Independence Realty Trust’s dividend payout ratio 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.