Independence Realty Trust, Inc. $IRT Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System raised its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 26.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 278,649 shares of the real estate investment trust’s stock after buying an additional 58,584 shares during the quarter. California State Teachers Retirement System’s holdings in Independence Realty Trust were worth $4,149,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of IRT. IFM Investors Pty Ltd grew its holdings in shares of Independence Realty Trust by 1.6% during the 4th quarter. IFM Investors Pty Ltd now owns 38,532 shares of the real estate investment trust’s stock worth $674,000 after purchasing an additional 607 shares during the period. Global Retirement Partners LLC raised its holdings in Independence Realty Trust by 15.9% in the 4th quarter. Global Retirement Partners LLC now owns 4,921 shares of the real estate investment trust’s stock valued at $86,000 after buying 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 valued at $688,000 after buying an additional 712 shares during the last quarter. 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 valued at $32,000 after buying an additional 747 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Independence Realty Trust by 1.1% during 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 buying an additional 789 shares during the period. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Price Performance

Independence Realty Trust stock opened at $17.23 on Friday. The stock has a market cap of $4.06 billion, a PE ratio of 95.75 and a beta of 0.94. The stock’s fifty day moving average is $16.66 and its two-hundred day moving average is $16.33. Independence Realty Trust, Inc. has a 1-year low of $14.60 and a 1-year high of $18.18.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.26). Independence Realty Trust had a return on equity of 1.22% and a net margin of 6.52%.The firm had revenue of $167.24 million for the quarter, compared to analysts’ expectations of $166.93 million. During the same period in the previous year, the business posted $0.28 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. On average, research analysts expect that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current fiscal year.

Independence Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Friday, June 26th. This is an increase from Independence Realty Trust’s previous quarterly dividend of $0.17. Independence Realty Trust’s payout ratio is currently 400.00%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Weiss Ratings upgraded Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Jefferies Financial Group upgraded Independence Realty Trust to a “strong-buy” rating in a report on Wednesday, July 22nd. Wall Street Zen lowered Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Royal Bank Of Canada raised their target price on Independence Realty Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Wells Fargo & Company lifted their target price on Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued 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 price target 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.