105,598 Shares in Independence Realty Trust, Inc. $IRT Purchased by Vanderbilt University

Vanderbilt University purchased a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 105,598 shares of the real estate investment trust’s stock, valued at approximately $1,572,000.

Several other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in Independence Realty Trust by 6.2% during the third quarter. JPMorgan Chase & Co. now owns 2,106,225 shares of the real estate investment trust’s stock worth $34,521,000 after purchasing an additional 123,274 shares during the period. Argosy Lionbridge Management LLC bought a new stake in shares of Independence Realty Trust in the 3rd quarter valued at approximately $12,209,000. Geode Capital Management LLC grew its stake in shares of Independence Realty Trust by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 6,445,967 shares of the real estate investment trust’s stock valued at $112,690,000 after purchasing an additional 148,449 shares during the period. Vanguard Group Inc. raised its holdings in shares of Independence Realty Trust by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 33,235,002 shares of the real estate investment trust’s stock worth $580,948,000 after buying an additional 250,549 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Independence Realty Trust by 1,767.5% in the 4th quarter. Teacher Retirement System of Texas now owns 571,568 shares of the real estate investment trust’s stock worth $9,991,000 after buying an additional 540,962 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on IRT. Weiss Ratings downgraded Independence Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 4th. Zacks Research upgraded Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Wells Fargo & Company lifted their price objective on Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, June 1st. 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. Finally, UBS Group lowered 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 report on Thursday, May 14th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Independence Realty Trust has a consensus rating of “Hold” and a consensus price target of $20.06.

Independence Realty Trust Trading Up 1.5%

NYSE:IRT opened at $16.52 on Thursday. The stock has a market capitalization of $3.89 billion, a P/E ratio of 82.58, a price-to-earnings-growth ratio of 1.81 and a beta of 0.96. Independence Realty Trust, Inc. has a 1 year low of $14.60 and a 1 year high of $18.18. The firm has a 50 day moving average of $16.30 and a 200-day moving average of $16.41.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.23. Independence Realty Trust had a return on equity of 1.35% and a net margin of 7.27%.The business had revenue of $165.32 million for the quarter, compared to analyst estimates of $166.35 million. During the same period in the prior year, the company earned $0.27 EPS. Independence Realty Trust’s revenue for the quarter was up 2.7% on a year-over-year basis. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. As a group, analysts forecast that Independence Realty Trust, Inc. will post 1.14 EPS for the current fiscal year.

Independence Realty Trust Increases Dividend

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