Wealth Enhancement Advisory Services LLC Boosts Stock Holdings in Independence Realty Trust, Inc. $IRT

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 15.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,104 shares of the real estate investment trust’s stock after buying an additional 3,324 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Independence Realty Trust were worth $446,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brooklyn Investment Group boosted its position in Independence Realty Trust by 131.4% during the first 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 in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Independence Realty Trust during the first quarter valued at about $53,000. GKV Capital Management Co. Inc. bought a new stake in shares of Independence Realty Trust in the 1st quarter valued at about $57,000. Wealthquest Corp purchased a new position in shares of Independence Realty Trust in the 1st quarter worth approximately $85,000. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Independence Realty Trust during the 1st quarter worth approximately $90,000. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. UBS Group cut their price target 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. Wall Street Zen raised Independence Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company reduced their target price on 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. Compass Point upgraded 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. Finally, Barclays dropped their price target on 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. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Independence Realty Trust currently has an average rating of “Moderate Buy” and an average target price of $22.14.

Independence Realty Trust Price Performance

NYSE:IRT opened at $16.17 on Tuesday. The company has a 50 day moving average price of $17.21 and a 200-day moving average price of $18.12. Independence Realty Trust, Inc. has a 1-year low of $16.11 and a 1-year high of $22.26. The firm 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.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28. Independence Realty Trust had a net margin of 4.31% and a return on equity of 0.78%. The company had revenue of $161.89 million for the quarter, compared to analyst estimates of $164.78 million. During the same quarter last year, the business 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 announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.2%. 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.