Independence Realty Trust, Inc. $IRT Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 7.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,827 shares of the real estate investment trust’s stock after buying an additional 1,590 shares during the period. Janney Montgomery Scott LLC’s holdings in Independence Realty Trust were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC boosted its stake in Independence Realty Trust by 34.9% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 37,035 shares of the real estate investment trust’s stock worth $791,000 after purchasing an additional 9,581 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Independence Realty Trust by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 136,579 shares of the real estate investment trust’s stock worth $2,898,000 after buying an additional 2,748 shares during the last quarter. Retirement Systems of Alabama raised its holdings in shares of Independence Realty Trust by 2.7% in the first quarter. Retirement Systems of Alabama now owns 280,506 shares of the real estate investment trust’s stock worth $5,955,000 after buying an additional 7,258 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Independence Realty Trust by 2.7% in the first quarter. Asset Management One Co. Ltd. now owns 355,905 shares of the real estate investment trust’s stock worth $7,556,000 after buying an additional 9,466 shares during the last quarter. Finally, Wealthquest Corp purchased a new position in shares of Independence Realty Trust in the first quarter worth $85,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

Shares of Independence Realty Trust stock opened at $16.04 on Friday. The firm has a 50-day simple moving average of $17.05 and a two-hundred day simple moving average of $17.83. The company has a market cap of $3.75 billion, a P/E ratio of 133.67, a price-to-earnings-growth ratio of 2.21 and a beta of 0.95. Independence Realty Trust, Inc. has a fifty-two week low of $15.87 and a fifty-two week high of $22.26.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.28 EPS for the quarter, hitting the consensus estimate of $0.28. The company had revenue of $161.89 million during 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 in the previous year, the firm earned $0.28 EPS. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. Equities research analysts forecast that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Tuesday, September 30th will be issued a $0.17 dividend. 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 payout ratio is presently 566.67%.

Wall Street Analyst Weigh In

IRT has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Independence Realty Trust in a research report on Wednesday, October 8th. UBS Group dropped their price objective 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 shares of Independence Realty Trust from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. Wells Fargo & Company dropped 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 report on Wednesday, August 27th. Finally, Barclays dropped their price objective 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. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.14.

Independence Realty Trust 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.