Daiwa Securities Group Inc. Buys 205,506 Shares of Independence Realty Trust, Inc. $IRT

Daiwa Securities Group Inc. lifted its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 40.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 711,275 shares of the real estate investment trust’s stock after acquiring an additional 205,506 shares during the period. Daiwa Securities Group Inc.’s holdings in Independence Realty Trust were worth $12,433,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Solstein Capital LLC acquired a new stake in shares of Independence Realty Trust in the 3rd quarter worth about $25,000. Danske Bank A S acquired a new stake in shares of Independence Realty Trust in the 3rd quarter worth about $26,000. Farther Finance Advisors LLC raised its holdings in shares of Independence Realty Trust by 70.3% in the 4th 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 last quarter. Huntington National Bank raised its holdings in shares of Independence Realty Trust by 46.4% in the 3rd 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 last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Independence Realty Trust by 1,420.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,329 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 3,110 shares during the last quarter. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Up 0.5%

Independence Realty Trust stock opened at $16.63 on Friday. Independence Realty Trust, Inc. has a 52 week low of $14.60 and a 52 week high of $18.74. The company’s 50 day moving average price is $15.95 and its two-hundred day moving average price is $16.45. The stock has a market cap of $3.92 billion, a P/E ratio of 83.15, a P/E/G ratio of 1.85 and a beta of 0.96.

Independence Realty Trust (NYSE:IRT) last posted its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 EPS for the quarter, topping 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 firm had revenue of $165.32 million for the quarter, compared to analysts’ expectations of $166.35 million. During the same quarter last year, the firm earned $0.27 EPS. The company’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, equities analysts anticipate that Independence Realty Trust, Inc. will post 1.14 EPS for the current year.

Independence Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.72 annualized dividend and a dividend yield of 4.3%. This is an increase from Independence Realty Trust’s previous quarterly dividend of $0.17. Independence Realty Trust’s payout ratio is 340.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on IRT shares. Barclays upped their target price on shares of Independence Realty Trust from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Wells Fargo & Company upped their target price on shares of Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. UBS Group lowered their target price on shares of Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Weiss Ratings lowered shares of Independence Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. Finally, Wall Street Zen lowered shares of Independence Realty Trust from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Independence Realty Trust has an average rating of “Hold” and an average 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.