Fisher Asset Management LLC Lowers Holdings in Independence Realty Trust, Inc. $IRT

Fisher Asset Management LLC decreased its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 4.7% in the 4th quarter, HoldingsChannel reports. The firm owned 1,145,635 shares of the real estate investment trust’s stock after selling 56,552 shares during the quarter. Fisher Asset Management LLC’s holdings in Independence Realty Trust were worth $20,026,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Independence Realty Trust by 6.2% in 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 acquiring an additional 123,274 shares during the last quarter. Argosy Lionbridge Management LLC purchased a new position in Independence Realty Trust in the third quarter worth approximately $12,209,000. Hantz Financial Services Inc. lifted its stake in Independence Realty Trust by 3,483.0% in the third quarter. Hantz Financial Services Inc. now owns 66,967 shares of the real estate investment trust’s stock worth $1,098,000 after acquiring an additional 65,098 shares during the last quarter. Vanguard Group Inc. lifted its stake in Independence Realty Trust by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 33,235,002 shares of the real estate investment trust’s stock worth $580,948,000 after acquiring an additional 250,549 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in Independence Realty Trust by 1,767.5% in the fourth quarter. Teacher Retirement System of Texas now owns 571,568 shares of the real estate investment trust’s stock worth $9,991,000 after acquiring an additional 540,962 shares during the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Trading Down 0.9%

IRT stock opened at $16.50 on Thursday. Independence Realty Trust, Inc. has a twelve month low of $14.60 and a twelve month high of $18.74. The company’s 50 day moving average is $15.83 and its two-hundred day moving average is $16.46. The stock has a market cap of $3.89 billion, a P/E ratio of 82.48, a PEG ratio of 1.86 and a beta of 0.98.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data 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 company had revenue of $165.32 million for the quarter, compared to analysts’ expectations of $166.35 million. During the same quarter last year, the company earned $0.27 earnings per share. The firm’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. On average, equities research analysts predict that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current 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 issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, June 26th. 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%. Independence Realty Trust’s dividend payout ratio is 340.00%.

Wall Street Analyst Weigh In

IRT has been the subject of a number of recent research reports. Zacks Research upgraded shares of Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Weiss Ratings upgraded shares of Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 20th. 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 decreased their price target 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. Finally, Wells Fargo & Company decreased their price target on shares of Independence Realty Trust from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.94.

About Independence Realty Trust

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.