Independence Realty Trust, Inc. $IRT Stock Position Cut by Voya Investment Management LLC

Voya Investment Management LLC lessened its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 9.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,787 shares of the real estate investment trust’s stock after selling 6,366 shares during the period. Voya Investment Management LLC’s holdings in Independence Realty Trust were worth $1,291,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Strs Ohio bought a new position in Independence Realty Trust in the 1st quarter valued at about $898,000. Geneos Wealth Management Inc. boosted its position in shares of Independence Realty Trust by 6.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 27,250 shares of the real estate investment trust’s stock valued at $579,000 after purchasing an additional 1,556 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Independence Realty Trust by 387.3% during the 1st quarter. Jane Street Group LLC now owns 818,312 shares of the real estate investment trust’s stock valued at $17,373,000 after purchasing an additional 650,375 shares in the last quarter. Woodline Partners LP bought a new position in shares of Independence Realty Trust during the 1st quarter valued at about $23,829,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Independence Realty Trust by 16.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,935,487 shares of the real estate investment trust’s stock valued at $62,320,000 after purchasing an additional 420,682 shares in the last quarter. Institutional investors own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of Independence Realty Trust from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 12th. Compass Point upgraded shares of Independence Realty Trust from a “neutral” rating to a “buy” rating and raised their price objective for the company from $22.00 to $24.00 in a research report on Thursday, July 31st. Wells Fargo & Company reduced their price objective on shares of Independence Realty Trust from $24.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, August 27th. UBS Group reduced their price objective on shares of Independence Realty Trust from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, July 15th. Finally, Wall Street Zen lowered shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, August 30th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.14.

Independence Realty Trust Stock Performance

Shares of IRT opened at $17.05 on Tuesday. The firm has a market cap of $3.99 billion, a PE ratio of 142.08, a PEG ratio of 2.37 and a beta of 0.96. The firm’s 50 day moving average price is $17.38 and its 200 day moving average price is $18.42. Independence Realty Trust, Inc. has a twelve month low of $16.59 and a twelve month 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 for the quarter, meeting the consensus estimate of $0.28. The firm had revenue of $161.89 million for the quarter, compared to analyst estimates 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 last year, the firm earned $0.28 earnings per share. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. On average, sell-side analysts anticipate that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors 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 4.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Independence Realty Trust’s dividend payout ratio (DPR) is presently 566.67%.

About Independence Realty Trust

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.