Why One Fund Just Put $12.2 Million Into This Beaten-Down Multi-Family Apartment REIT

6 days ago 3

Jonathan Ponciano, The Motley Fool

Tue, December 9, 2025 astatine 5:50 AM CST 5 min read

New York City-based Argosy-Lionbridge Management disclosed a caller involvement successful the 3rd quarter, buying 744,935 shares of Independence Realty Trust for an estimated $12.2 million.
The presumption represents astir 8% of 13F reportable assets nether management.
The determination marked a caller presumption for Argosy-Lionbridge, arsenic the money did not study holding IRT shares successful the erstwhile period.
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New York City-based Argosy-Lionbridge Management disclosed a caller presumption successful Independence Realty Trust, reporting the summation of 744,935 shares worthy an estimated $12.2 cardinal during the 3rd quarter.

According to a filing with the Securities and Exchange Commission (SEC) dated November 14, Argosy-Lionbridge Management initiated a caller presumption successful Independence Realty Trust (NYSE:IRT). The money reported holding 744,935 shares valued astatine $12.2 cardinal arsenic of September 30, reflecting a caller allocation adjacent to 8% of its reportable assets.

Top holdings aft the filing:

NYSE: REXR: $24.9 cardinal (16.4% of AUM)
NYSE: AIV: $23.1 cardinal (15.2% of AUM)
NYSE: ELME: $21.5 cardinal (14.1% of AUM)
NYSE: FR: $20.8 cardinal (13.7% of AUM)
NYSE: LEN: $19.6 cardinal (12.9% of AUM)

As of Monday, shares of Independence Realty Trust were priced astatine $16.45, down 22.5% implicit the past twelvemonth and good underperforming the S&P 500, which is up 12% successful the aforesaid period.

Metric

Value

Market Capitalization	$4 billion
Revenue (TTM)	$651.5 million
Net Income (TTM)	$22.3 million
Dividend Yield	4%

Independence Realty Trust owns and operates multifamily flat properties, generating gross chiefly from rental income crossed non-gateway U.S. markets.
The institution operates arsenic a existent property concern spot (REIT), focusing connected portfolio absorption and superior appreciation to present accordant distributions to shareholders.
It targets residents seeking amenity-rich surviving successful submarkets with prime schools, retail, and employment centers, chiefly successful cities specified arsenic Atlanta, Louisville, Memphis, and Raleigh.

Independence Realty Trust, Inc. is simply a large-scale residential REIT with a portfolio concentrated successful high-demand, non-gateway U.S. markets. The company’s strategy centers connected scaling wrong amenity-rich submarkets to thrust operational show and present charismatic risk-adjusted returns. Through disciplined absorption and a absorption connected unchangeable rental income, IRT aims to supply accordant worth to its shareholders.

Buying into a beaten-down residential REIT seems similar the benignant of determination motivated by a content that fundamentals — and not sentiment — volition yet thrust returns. That’s the backdrop for Argosy-Lionbridge’s caller presumption successful Independence Realty Trust, a multifamily relation delivering humble but dependable operating gains adjacent arsenic the banal trades acold beneath its 2022 highs. Same-store NOI roseate 2.7% successful the 3rd quarter, portfolio occupancy held supra 95%, and value-add renovations generated an mean 14.8% return, according to the company’s latest net release.

IRT’s footprint crossed non-gateway markets — Atlanta, Raleigh, Louisville, Memphis — whitethorn entreaty to investors looking for demographic tailwinds and little proviso hazard arsenic compared with coastal markets. Management reaffirmed full-year halfway funds from operations guidance and highlighted improving atrocious indebtedness trends and accretive acquisitions successful Orlando, different people of operational discipline.

For semipermanent investors, the cardinal question is whether unchangeable occupancy, improving operating margins, and disciplined superior recycling tin outweigh broader valuation unit — and make an charismatic introduction constituent astatine depressed levels.