Independence Realty Trust, Inc. $IRT Shares Purchased by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC raised its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 17.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 21,352 shares of the real estate investment trust’s stock after acquiring an additional 3,155 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Independence Realty Trust were worth $378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Deutsche Bank AG grew its position in Independence Realty Trust by 44.2% in the 1st quarter. Deutsche Bank AG now owns 4,876,816 shares of the real estate investment trust’s stock worth $103,535,000 after purchasing an additional 1,495,132 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Independence Realty Trust in the 1st quarter valued at approximately $29,149,000. Cbre Investment Management Listed Real Assets LLC lifted its position in shares of Independence Realty Trust by 120.0% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,233,851 shares of the real estate investment trust’s stock valued at $47,425,000 after acquiring an additional 1,218,559 shares in the last quarter. Woodline Partners LP acquired a new position in Independence Realty Trust in the 1st quarter valued at approximately $23,829,000. Finally, MetLife Investment Management LLC increased its stake in Independence Realty Trust by 257.0% in the 1st quarter. MetLife Investment Management LLC now owns 948,482 shares of the real estate investment trust’s stock valued at $20,136,000 after buying an additional 682,815 shares during the period. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

IRT opened at $16.17 on Tuesday. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 134.75, a price-to-earnings-growth ratio of 2.25 and a beta of 0.95. The firm has a 50 day simple moving average of $17.21 and a 200 day simple moving average of $18.12. Independence Realty Trust, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $22.26.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28. The firm had revenue of $161.89 million during the quarter, compared to analysts’ expectations of $164.78 million. Independence Realty Trust had a net margin of 4.31% and a return on equity of 0.78%. During the same quarter in the previous year, the company earned $0.28 earnings per share. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. As a group, analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 30th. Independence Realty Trust’s dividend payout ratio is 566.67%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on IRT shares. Wall Street Zen upgraded shares of Independence Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday. Barclays dropped their price target on shares of Independence Realty Trust from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 12th. UBS Group dropped their target price on shares of Independence Realty Trust from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, July 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Independence Realty Trust in a report on Saturday, September 27th. Finally, Compass Point upgraded shares of Independence Realty Trust from a “neutral” rating to a “buy” rating and raised their price target for the stock from $22.00 to $24.00 in a research report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.14.

Independence Realty Trust Company Profile

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL.