Kestra Advisory Services LLC Has $2.83 Million Stock Position in Independence Realty Trust, Inc. $IRT

Key Points

• Kestra Advisory Services LLC nearly doubled its stake in Independence Realty Trust in the first quarter, buying 92,390 more shares and raising its holdings to 189,982 shares worth about $2.83 million.
• Analyst sentiment on IRT has improved overall, with recent upgrades from Jefferies and Barclays helping drive the stock to a Moderate Buy consensus and a target price of $20.19.
• Independence Realty Trust posted quarterly EPS of $0.26, beating expectations, and also raised its dividend to $0.18 per share for a 4.3% annualized yield.

Kestra Advisory Services LLC lifted its position in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 94.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,982 shares of the real estate investment trust's stock after buying an additional 92,390 shares during the period. Kestra Advisory Services LLC owned about 0.08% of Independence Realty Trust worth $2,829,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Independence Realty Trust by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 33,235,002 shares of the real estate investment trust's stock worth $580,948,000 after acquiring an additional 250,549 shares in the last quarter. State Street Corp grew its position in shares of Independence Realty Trust by 0.6% in the 4th quarter. State Street Corp now owns 13,074,813 shares of the real estate investment trust's stock valued at $230,705,000 after purchasing an additional 76,635 shares during the period. Alliancebernstein L.P. increased its stake in Independence Realty Trust by 0.3% during the 2nd quarter. Alliancebernstein L.P. now owns 9,139,506 shares of the real estate investment trust's stock worth $161,678,000 after purchasing an additional 30,701 shares in the last quarter. Geode Capital Management LLC increased its stake in Independence Realty Trust by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,445,967 shares of the real estate investment trust's stock worth $112,690,000 after purchasing an additional 148,449 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Independence Realty Trust by 209.5% during the 4th quarter. Morgan Stanley now owns 5,649,829 shares of the real estate investment trust's stock worth $98,759,000 after buying an additional 3,824,512 shares during the period. 88.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on IRT shares. Zacks Research raised shares of Independence Realty Trust from a "strong sell" rating to a "hold" rating in a research report on Monday, March 23rd. Jefferies Financial Group raised shares of Independence Realty Trust to a "strong-buy" rating in a research note on Friday, June 26th. Wall Street Zen downgraded Independence Realty Trust from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 2nd. Barclays upgraded Independence Realty Trust from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $19.00 to $20.00 in a report on Tuesday. Finally, Weiss Ratings raised Independence Realty Trust from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.19.

Independence Realty Trust Trading Down 2.1%

Independence Realty Trust stock opened at $16.62 on Friday. Independence Realty Trust, Inc. has a 1-year low of $14.60 and a 1-year high of $18.18. The company has a fifty day simple moving average of $16.59 and a 200 day simple moving average of $16.40. The company has a market cap of $3.92 billion, a P/E ratio of 83.08, a price-to-earnings-growth ratio of 1.85 and a beta of 0.95.

Independence Realty Trust (NYSE:IRT - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $165.32 million during the quarter, compared to the consensus estimate of $166.35 million. Independence Realty Trust had a net margin of 7.27% and a return on equity of 1.35%. The company's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 EPS. Independence Realty Trust has set its FY 2026 guidance at 1.120-1.160 EPS. On average, equities research analysts forecast that Independence Realty Trust, Inc. will post 1.14 EPS for the current year.

Independence Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, June 26th. This represents a $0.72 dividend on an annualized basis 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 dividend payout ratio (DPR) is currently 360.00%.

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.

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