Aurora Investment Managers LLC. Has $1.48 Million Position in Independence Realty Trust, Inc. $IRT

Key Points

• Aurora Investment Managers LLC reduced its stake in Independence Realty Trust by 48.9% in the first quarter, leaving it with 99,066 shares valued at about $1.48 million.
• Independence Realty Trust reported Q1 EPS of $0.26, well above analysts’ estimate of $0.03, while revenue came in at $165.32 million, slightly below expectations but up 2.7% from a year ago.
• The company raised its quarterly dividend to $0.18 per share from $0.17, implying an annualized yield of about 4.4%; analysts currently rate the stock Hold on average with a consensus price target of $20.06.

Aurora Investment Managers LLC. cut its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 48.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,066 shares of the real estate investment trust's stock after selling 94,676 shares during the quarter. Independence Realty Trust accounts for about 1.1% of Aurora Investment Managers LLC.'s portfolio, making the stock its 27th largest position. Aurora Investment Managers LLC.'s holdings in Independence Realty Trust were worth $1,475,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Solstein Capital LLC acquired a new position in Independence Realty Trust in the 3rd quarter worth about $25,000. Danske Bank A S bought a new stake in shares of Independence Realty Trust during the third quarter worth about $26,000. SHP Wealth Management bought a new stake in shares of Independence Realty Trust during the fourth quarter worth about $30,000. Farther Finance Advisors LLC increased its stake in shares of Independence Realty Trust by 70.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 747 shares during the period. Finally, Huntington National Bank increased its stake in shares of Independence Realty Trust by 46.4% in the third quarter. Huntington National Bank now owns 2,289 shares of the real estate investment trust's stock valued at $38,000 after buying an additional 725 shares during the period. Institutional investors own 88.25% of the company's stock.

Independence Realty Trust Stock Up 1.7%

NYSE:IRT opened at $16.28 on Wednesday. The company has a fifty day moving average of $16.28 and a 200-day moving average of $16.41. The firm has a market capitalization of $3.84 billion, a P/E ratio of 81.40, a P/E/G ratio of 1.79 and a beta of 0.96. Independence Realty Trust, Inc. has a twelve month low of $14.60 and a twelve month high of $18.18.

Independence Realty Trust (NYSE:IRT - Get Free Report) last released its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $165.32 million for the quarter, compared to the consensus estimate of $166.35 million. During the same quarter in the previous year, the company earned $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, analysts anticipate that Independence Realty Trust, Inc. will post 1.14 EPS for the current fiscal year.

Independence Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, June 26th. This is a positive change from Independence Realty Trust's previous quarterly dividend of $0.17. Independence Realty Trust's dividend payout ratio is presently 340.00%.

Analyst Upgrades and Downgrades

IRT has been the subject of several analyst reports. Barclays raised their price target on shares of Independence Realty Trust from $18.00 to $19.00 and gave the company an "equal weight" rating in a research note on Monday, May 11th. Zacks Research raised shares of Independence Realty Trust from a "strong sell" rating to a "hold" rating in a research note on Monday, March 23rd. UBS Group decreased their price objective on Independence Realty Trust from $20.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, May 14th. Wall Street Zen lowered Independence Realty Trust from a "sell" rating to a "strong sell" rating in a research report on Saturday, May 2nd. Finally, Wells Fargo & Company lifted their target price on Independence Realty Trust from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Monday, June 1st. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $20.06.

Independence Realty Trust 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.

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