Strs Ohio Decreases Position in Independence Realty Trust, Inc. $IRT

Strs Ohio trimmed its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 62.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 194,800 shares of the real estate investment trust’s stock after selling 330,400 shares during the period. Strs Ohio’s holdings in Independence Realty Trust were worth $2,901,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of IRT. Inspire Investing LLC increased its position in shares of Independence Realty Trust by 29.4% during the 1st quarter. Inspire Investing LLC now owns 34,740 shares of the real estate investment trust’s stock valued at $517,000 after purchasing an additional 7,887 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in Independence Realty Trust by 8.0% during the first quarter. Pictet Asset Management Holding SA now owns 38,332 shares of the real estate investment trust’s stock worth $571,000 after buying an additional 2,841 shares during the period. Louisiana State Employees Retirement System purchased a new position in Independence Realty Trust during the first quarter worth $1,023,000. Vanderbilt University bought a new position in Independence Realty Trust during the first quarter valued at $1,572,000. Finally, SG Americas Securities LLC increased its position in 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 acquiring an additional 49,465 shares during the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on IRT. Wall Street Zen lowered shares of Independence Realty Trust from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Jefferies Financial Group upgraded shares of Independence Realty Trust to a “strong-buy” rating in a report on Friday, June 26th. UBS Group reduced their price objective on shares of Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Barclays raised their price objective 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, Zacks Research upgraded Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.06.

Independence Realty Trust Price Performance

Shares of NYSE:IRT traded up $0.41 on Tuesday, hitting $17.56. 125,775 shares of the company’s stock were exchanged, compared to its average volume of 2,769,498. Independence Realty Trust, Inc. has a 12 month low of $14.60 and a 12 month high of $18.18. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 87.70, a price-to-earnings-growth ratio of 1.93 and a beta of 0.95. The business’s 50 day simple moving average is $16.49 and its two-hundred day simple moving average is $16.42.

Independence Realty Trust (NYSE:IRT) last issued its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share (EPS) 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%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 earnings per share. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. Equities analysts forecast that Independence Realty Trust, Inc. will post 1.14 EPS for the current fiscal year.

Independence Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be given a $0.18 dividend. This is a positive change from Independence Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.72 annualized dividend and a yield of 4.1%. Independence Realty Trust’s dividend payout ratio is presently 360.00%.

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.