Independence Realty Trust, Inc. $IRT Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its position in Independence Realty Trust, Inc. (NYSE:IRT) by 14.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,582 shares of the real estate investment trust’s stock after selling 15,264 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Independence Realty Trust were worth $1,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group increased its position in Independence Realty Trust by 131.4% in the 1st quarter. Brooklyn Investment Group now owns 1,254 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 712 shares during the period. Hantz Financial Services Inc. grew its position in Independence Realty Trust by 551.2% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,869 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,582 shares in the last quarter. UMB Bank n.a. increased its stake in Independence Realty Trust by 189.5% during the 2nd quarter. UMB Bank n.a. now owns 2,883 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 1,887 shares during the period. Headlands Technologies LLC bought a new stake in shares of Independence Realty Trust during the 1st quarter worth about $53,000. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of Independence Realty Trust in the 1st quarter worth approximately $57,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on IRT. Weiss Ratings reissued a “hold (c-)” rating on shares of Independence Realty Trust in a report on Friday, October 31st. Wells Fargo & Company dropped their price objective on Independence Realty Trust from $24.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 27th. Barclays lowered 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. 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. Finally, UBS Group reduced their target price on shares of Independence Realty Trust from $21.00 to $19.00 and set a “buy” rating for the company in a report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Independence Realty Trust Stock Up 0.6%

Shares of Independence Realty Trust stock opened at $16.57 on Monday. The stock has a market cap of $3.96 billion, a PE ratio of 165.67, a price-to-earnings-growth ratio of 2.29 and a beta of 0.98. Independence Realty Trust, Inc. has a 12 month low of $15.06 and a 12 month high of $22.26. The business has a fifty day simple moving average of $16.49 and a 200-day simple moving average of $17.42.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Independence Realty Trust had a return on equity of 0.62% and a net margin of 3.42%.The business had revenue of $167.14 million for the quarter, compared to analyst estimates of $168.31 million. During the same quarter in the previous year, the business posted $0.29 earnings per share. Independence Realty Trust has set its FY 2025 guidance at 1.200-1.210 EPS. Analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Dividend Announcement

The firm 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. This represents a $0.68 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, September 30th. Independence Realty Trust’s payout ratio is presently 680.00%.

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.