Independence Realty Trust (NYSE:IRT) Sets New 1-Year Low – Should You Sell?

Shares of Independence Realty Trust, Inc. (NYSE:IRT) hit a new 52-week low on Tuesday . The stock traded as low as $14.60 and last traded at $14.6750, with a volume of 41187 shares. The stock had previously closed at $14.66.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IRT shares. UBS Group cut their target price on shares of Independence Realty Trust from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, September 15th. Citigroup restated a “market outperform” rating on shares of Independence Realty Trust in a research note on Thursday, September 10th. Wall Street Zen raised Independence Realty Trust from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings upgraded Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Finally, Wells Fargo & Company boosted their price target on Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Independence Realty Trust presently has an average rating of “Moderate Buy” and an average target price of $19.72.

Independence Realty Trust Stock Up 0.6%

The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 81.88 and a beta of 0.93. The stock has a 50 day simple moving average of $16.32 and a 200 day simple moving average of $16.21.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $167.24 million for the quarter, compared to analyst estimates of $166.93 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The firm’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. As a group, analysts forecast that Independence Realty Trust, Inc. will post 1.14 EPS for the current year.

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Wednesday, September 30th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Wednesday, September 30th. Independence Realty Trust’s dividend payout ratio (DPR) is presently 400.00%.

Hedge Funds Weigh In On Independence Realty Trust

Several institutional investors have recently modified their holdings of IRT. SHP Wealth Management bought a new stake in Independence Realty Trust in the 4th quarter valued at about $30,000. Sunbelt Securities Inc. raised its holdings in shares of Independence Realty Trust by 84.4% during the first quarter. Sunbelt Securities Inc. now owns 3,550 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 1,625 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Independence Realty Trust by 73.2% during the first quarter. Assetmark Inc. now owns 3,630 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 1,534 shares during the last quarter. State of Wyoming acquired a new position in shares of Independence Realty Trust during the first quarter worth approximately $62,000. Finally, Nykredit A S acquired a new position in shares of Independence Realty Trust during the second quarter worth approximately $72,000. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Company Profile

Independence Realty Trust, Inc is a self-administered and self-managed real estate investment trust that owns, operates and acquires multifamily apartment communities. The company generates revenue primarily from residential rents and related fees, while focusing on providing housing in markets with favorable population and employment trends.

Independence Realty Trust’s portfolio is concentrated primarily in the Sun Belt and other high-growth regions of the United States. Its communities serve a range of renters and typically include amenities such as swimming pools, fitness centers, clubhouses and outdoor recreation areas.