M&T Bank Corp Takes $593,000 Position in Independence Realty Trust, Inc. $IRT

M&T Bank Corp bought a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 33,908 shares of the real estate investment trust’s stock, valued at approximately $593,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Solstein Capital LLC bought a new stake in Independence Realty Trust during the 3rd quarter valued at approximately $25,000. Danske Bank A S bought a new position in Independence Realty Trust during the third quarter worth $26,000. First Horizon Corp bought a new position in Independence Realty Trust during the third quarter worth $27,000. Farther Finance Advisors LLC increased its position 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 worth $32,000 after acquiring an additional 747 shares during the period. Finally, Huntington National Bank increased its position in Independence Realty Trust by 46.4% during the third quarter. Huntington National Bank now owns 2,289 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 725 shares during the period. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Trading Up 0.2%

Shares of IRT opened at $16.46 on Tuesday. Independence Realty Trust, Inc. has a 1 year low of $14.60 and a 1 year high of $19.61. The stock has a 50 day simple moving average of $15.78 and a 200-day simple moving average of $16.42. The stock has a market cap of $3.88 billion, a PE ratio of 82.29, a PEG ratio of 1.83 and a beta of 0.98.

Independence Realty Trust (NYSE:IRT) last issued its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share (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 during the quarter, compared to analysts’ expectations of $166.35 million. During the same period in the prior year, the firm posted $0.27 EPS. Independence Realty Trust’s quarterly revenue was up 2.7% compared to the same quarter last year. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. On average, sell-side analysts forecast that Independence Realty Trust, Inc. will post 1.14 EPS for the current fiscal year.

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.1%. Independence Realty Trust’s dividend payout ratio is presently 340.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on IRT shares. Wells Fargo & Company dropped their target price on shares of Independence Realty Trust from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft downgraded Independence Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research report on Tuesday, January 20th. Zacks Research raised Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. Weiss Ratings downgraded shares of Independence Realty Trust from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Finally, 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. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Independence Realty Trust currently has a consensus rating of “Hold” and a consensus target price of $20.06.

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.