Mutual of America Capital Management LLC Has $2.05 Million Holdings in Independence Realty Trust, Inc. $IRT

Mutual of America Capital Management LLC cut its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116,065 shares of the real estate investment trust’s stock after selling 2,552 shares during the period. Mutual of America Capital Management LLC’s holdings in Independence Realty Trust were worth $2,053,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Xponance Inc. lifted its holdings in shares of Independence Realty Trust by 2.1% in the first quarter. Xponance Inc. now owns 32,632 shares of the real estate investment trust’s stock valued at $693,000 after purchasing an additional 678 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Independence Realty Trust by 131.4% in 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. Envestnet Asset Management Inc. lifted its holdings in shares of Independence Realty Trust by 0.3% in the first 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 in the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Independence Realty Trust by 2.6% in 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. Finally, Lindbrook Capital LLC lifted its holdings in shares of Independence Realty Trust by 10.7% in the first quarter. Lindbrook Capital LLC now owns 8,730 shares of the real estate investment trust’s stock valued at $185,000 after purchasing an additional 841 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IRT. Wells Fargo & Company dropped their target price on Independence Realty Trust from $24.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, August 27th. Wall Street Zen upgraded Independence Realty Trust from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Independence Realty Trust in a report on Wednesday, October 8th. UBS Group dropped their target price on Independence Realty Trust from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, July 15th. Finally, Barclays dropped their target price on 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 issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.14.

Independence Realty Trust Stock Down 0.4%

NYSE IRT opened at $16.25 on Friday. Independence Realty Trust, Inc. has a twelve month low of $15.87 and a twelve month high of $22.26. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 135.38, a price-to-earnings-growth ratio of 2.24 and a beta of 0.95. The business’s fifty day moving average is $16.93 and its 200 day moving average is $17.75.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.28. Independence Realty Trust had a return on equity of 0.78% and a net margin of 4.31%.The business had revenue of $161.89 million during the quarter, compared to analyst estimates of $164.78 million. During the same period last year, the company earned $0.28 EPS. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. On average, research 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 company also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Tuesday, September 30th were paid a $0.17 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $0.68 annualized dividend and a yield of 4.2%. Independence Realty Trust’s dividend payout ratio is presently 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.