RM Financial Services LLC Invests $1.94 Million in Independence Realty Trust, Inc. $IRT

RM Financial Services LLC bought a new stake in Independence Realty Trust, Inc. (NYSE:IRT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 110,723 shares of the real estate investment trust’s stock, valued at approximately $1,935,000. Independence Realty Trust makes up approximately 1.7% of RM Financial Services LLC’s portfolio, making the stock its 13th biggest holding.

A number of other institutional investors also recently added to or reduced their stakes in the company. Solstein Capital LLC purchased a new stake in shares of Independence Realty Trust in the 3rd quarter valued at approximately $25,000. Danske Bank A S purchased a new stake in shares of Independence Realty Trust during the 3rd quarter worth $26,000. Farther Finance Advisors LLC lifted its position in shares of Independence Realty Trust by 70.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 747 shares during the last quarter. Huntington National Bank grew its stake in shares of 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 purchasing an additional 725 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Independence Realty Trust by 1,420.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 3,329 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 3,110 shares in the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

NYSE IRT opened at $17.02 on Thursday. The company has a fifty day moving average of $16.07 and a two-hundred day moving average of $16.46. The company has a market capitalization of $4.01 billion, a PE ratio of 85.08, a P/E/G ratio of 1.89 and a beta of 0.96. Independence Realty Trust, Inc. has a 1 year low of $14.60 and a 1 year high of $18.74.

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 analysts’ consensus estimates of $0.03 by $0.23. The business had revenue of $165.32 million for the quarter, compared to analysts’ expectations of $166.35 million. Independence Realty Trust had a return on equity of 1.35% and a net margin of 7.27%.The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. On average, research analysts expect that Independence Realty Trust, Inc. will post 1.14 earnings per share for the current year.

Independence Realty Trust Increases Dividend

The company 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 $0.18 dividend. 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 4.2%. The ex-dividend date is Friday, June 26th. Independence Realty Trust’s dividend payout ratio (DPR) is presently 360.00%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on IRT shares. Weiss Ratings cut Independence Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 4th. Barclays increased their price objective on Independence Realty Trust from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Wells Fargo & Company raised their target price on Independence Realty Trust from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. UBS Group decreased their target price on 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, Wall Street Zen downgraded 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Independence Realty Trust has an average rating of “Hold” and an average price target 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.