Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Position in Independence Realty Trust, Inc. $IRT

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 21.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 167,630 shares of the real estate investment trust’s stock after purchasing an additional 30,001 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Independence Realty Trust were worth $2,496,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. NewEdge Advisors LLC purchased a new stake in Independence Realty Trust in the 1st quarter valued at about $209,000. Goldman Sachs Group Inc. grew its holdings in Independence Realty Trust by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,935,487 shares of the real estate investment trust’s stock valued at $62,320,000 after purchasing an additional 420,682 shares during the period. American Century Companies Inc. grew its holdings in Independence Realty Trust by 1.1% in the second quarter. American Century Companies Inc. now owns 70,678 shares of the real estate investment trust’s stock valued at $1,250,000 after purchasing an additional 789 shares during the period. Invesco Ltd. increased its position in Independence Realty Trust by 13.0% during the second quarter. Invesco Ltd. now owns 1,139,216 shares of the real estate investment trust’s stock worth $20,153,000 after purchasing an additional 131,444 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Independence Realty Trust by 63.3% during the second quarter. First Trust Advisors LP now owns 196,463 shares of the real estate investment trust’s stock worth $3,475,000 after purchasing an additional 76,147 shares during the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Trading Up 2.9%

Shares of IRT stock opened at $16.94 on Friday. The company’s fifty day simple moving average is $16.58 and its 200-day simple moving average is $16.40. Independence Realty Trust, Inc. has a 52 week low of $14.60 and a 52 week high of $18.18. The company has a market cap of $3.99 billion, a PE ratio of 84.70, a P/E/G ratio of 1.84 and a beta of 0.95.

Independence Realty Trust (NYSE:IRT) last posted its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $166.35 million. During the same quarter in the previous year, the business posted $0.27 EPS. The business’s quarterly revenue 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. Equities research analysts expect that Independence Realty Trust, Inc. will post 1.14 EPS for the current fiscal 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 paid a dividend of $0.18 per share. This is a boost 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 4.3%. The ex-dividend date is Friday, June 26th. Independence Realty Trust’s payout ratio is presently 360.00%.

Analyst Ratings Changes

A number of equities analysts have weighed in on IRT shares. Wells Fargo & Company lifted their price target on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Jefferies Financial Group upgraded Independence Realty Trust to a “strong-buy” rating in a report on Friday, June 26th. Weiss Ratings raised Independence Realty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 6th. Barclays upgraded Independence Realty Trust from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $20.00 in a report on Tuesday. Finally, UBS Group lowered their price target on Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.19.

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.