IFM Investors Pty Ltd Cuts Stock Position in Independence Realty Trust, Inc. $IRT

IFM Investors Pty Ltd trimmed its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 17.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,297 shares of the real estate investment trust’s stock after selling 8,094 shares during the period. IFM Investors Pty Ltd’s holdings in Independence Realty Trust were worth $660,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Independence Realty Trust by 2.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,292 shares of the real estate investment trust’s stock worth $442,000 after acquiring an additional 488 shares during the last quarter. Xponance Inc. lifted its stake in Independence Realty Trust by 2.1% in the 1st quarter. Xponance Inc. now owns 32,632 shares of the real estate investment trust’s stock worth $693,000 after purchasing an additional 678 shares in the last quarter. Brooklyn Investment Group boosted its holdings in shares of Independence Realty Trust by 131.4% during the 1st quarter. Brooklyn Investment Group now owns 1,254 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 712 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Independence Realty Trust by 0.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 252,949 shares of the real estate investment trust’s stock valued at $5,370,000 after purchasing an additional 731 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its position in shares of Independence Realty Trust by 2.6% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 32,978 shares of the real estate investment trust’s stock valued at $700,000 after purchasing an additional 829 shares in the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

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

Independence Realty Trust Stock Up 0.5%

Independence Realty Trust stock opened at $17.12 on Wednesday. The firm has a market cap of $4.00 billion, a P/E ratio of 142.67, a P/E/G ratio of 2.35 and a beta of 0.96. The business has a fifty day moving average of $17.38 and a two-hundred day moving average of $18.41. 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 released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28. The business had revenue of $161.89 million for 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 period last year, the business earned $0.28 EPS. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. Equities analysts expect that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Tuesday, September 30th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.68 dividend on an annualized basis and a yield of 4.0%. Independence Realty Trust’s dividend payout ratio (DPR) is 566.67%.

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.