Sei Investments Co. Has $4.45 Million Stock Position in Independence Realty Trust, Inc. $IRT

Sei Investments Co. grew its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 19.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 298,589 shares of the real estate investment trust’s stock after purchasing an additional 49,088 shares during the period. Sei Investments Co. owned about 0.13% of Independence Realty Trust worth $4,446,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of IRT. Danske Bank A S acquired a new stake in shares of Independence Realty Trust during the 3rd quarter valued at about $26,000. SHP Wealth Management bought a new stake in shares of Independence Realty Trust during the 4th quarter worth $30,000. Farther Finance Advisors LLC boosted its holdings in Independence Realty Trust by 70.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 747 shares during the period. Smartleaf Asset Management LLC boosted its stake in Independence Realty Trust by 97.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,875 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 1,422 shares during the period. Finally, Assetmark Inc. grew its stake in shares of Independence Realty Trust by 73.2% in the first quarter. Assetmark Inc. now owns 3,630 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 1,534 shares during the last quarter. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Independence Realty Trust Stock Performance

NYSE:IRT opened at $17.10 on Thursday. The company has a market cap of $4.03 billion, a P/E ratio of 95.01 and a beta of 0.94. Independence Realty Trust, Inc. has a 52-week low of $14.60 and a 52-week high of $18.18. The stock’s 50-day simple moving average is $16.63 and its 200 day simple moving average is $16.33.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.26). The company had revenue of $167.24 million during the quarter, compared to analyst estimates of $166.93 million. Independence Realty Trust had a net margin of 6.52% and a return on equity of 1.22%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. 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 disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, June 26th. This is a positive change from Independence Realty Trust’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.2%. Independence Realty Trust’s payout ratio is 400.00%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on IRT shares. Weiss Ratings upgraded Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 6th. Wall Street Zen downgraded Independence Realty Trust from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. 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 note on Thursday, May 14th. Royal Bank Of Canada upped their price target on Independence Realty Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Barclays raised Independence Realty Trust from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $19.00 to $20.00 in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Independence Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.56.

Independence Realty Trust 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.