Texas Capital Bank Wealth Management Services Inc Purchases Shares of 44,372 Independence Realty Trust, Inc. $IRT

Texas Capital Bank Wealth Management Services Inc purchased a new stake in Independence Realty Trust, Inc. (NYSE:IRT) in the 4th quarter, HoldingsChannel reports. The fund purchased 44,372 shares of the real estate investment trust’s stock, valued at approximately $776,000.

Other hedge funds have also made changes to their positions in the company. Solstein Capital LLC purchased a new stake in shares of Independence Realty Trust in the 3rd quarter valued at approximately $25,000. Danske Bank A S acquired a new stake in Independence Realty Trust during the 3rd quarter valued at $26,000. Farther Finance Advisors LLC raised its stake in Independence Realty Trust by 70.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 747 shares during the period. Huntington National Bank raised its stake in Independence Realty Trust by 46.4% during the 3rd quarter. Huntington National Bank now owns 2,289 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 725 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in Independence Realty Trust by 1,420.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,329 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 3,110 shares during the period. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Trading Down 0.3%

NYSE IRT opened at $16.45 on Friday. Independence Realty Trust, Inc. has a 1-year low of $14.60 and a 1-year high of $18.74. The company has a market capitalization of $3.88 billion, a PE ratio of 82.23, a price-to-earnings-growth ratio of 1.84 and a beta of 0.98. The firm’s fifty day simple moving average is $15.84 and its 200-day simple 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 for the quarter, topping analysts’ consensus estimates of $0.03 by $0.23. Independence Realty Trust had a net margin of 7.27% and a return on equity of 1.35%. The business had revenue of $165.32 million for the quarter, compared to the consensus estimate of $166.35 million. During the same period in the prior year, the business posted $0.27 earnings per share. Independence Realty Trust’s revenue for the quarter was up 2.7% compared to the same quarter last year. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. As a group, analysts predict that Independence Realty Trust, Inc. will post 1.14 EPS 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. Stockholders of record on Friday, June 26th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.4%. This is a boost from Independence Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, June 26th. Independence Realty Trust’s dividend payout ratio (DPR) is currently 340.00%.

Analysts Set New Price Targets

IRT has been the topic of several recent analyst reports. Zacks Research raised shares of Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Wall Street Zen downgraded shares of Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. UBS Group cut their target price on shares of Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Weiss Ratings raised shares of Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 20th. Finally, Barclays boosted their target price on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Independence Realty Trust has a consensus rating of “Moderate Buy” and an average target price of $19.94.

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.