Inspire Investing LLC Boosts Stock Holdings in Independence Realty Trust, Inc. $IRT

Inspire Investing LLC grew its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 54.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,060 shares of the real estate investment trust’s stock after buying an additional 8,835 shares during the quarter. Inspire Investing LLC’s holdings in Independence Realty Trust were worth $443,000 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. Principal Financial Group Inc. grew its holdings in shares of Independence Realty Trust by 3.5% during the first quarter. Principal Financial Group Inc. now owns 747,252 shares of the real estate investment trust’s stock valued at $15,864,000 after buying an additional 25,124 shares during the last quarter. Victory Capital Management Inc. lifted its position in Independence Realty Trust by 889.9% during the first quarter. Victory Capital Management Inc. now owns 410,801 shares of the real estate investment trust’s stock valued at $8,721,000 after purchasing an additional 369,303 shares during the period. Headlands Technologies LLC bought a new position in Independence Realty Trust during the first quarter valued at approximately $53,000. Cbre Investment Management Listed Real Assets LLC lifted its position in Independence Realty Trust by 120.0% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,233,851 shares of the real estate investment trust’s stock valued at $47,425,000 after purchasing an additional 1,218,559 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Independence Realty Trust by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,618,723 shares of the real estate investment trust’s stock valued at $76,825,000 after purchasing an additional 57,108 shares during the period. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IRT. Weiss Ratings restated a “hold (c)” rating on shares of Independence Realty Trust in a research report on Wednesday, October 8th. UBS Group lowered 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 research report on Tuesday, July 15th. Barclays lowered 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 research report on Tuesday, August 12th. Wells Fargo & Company lowered 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. Finally, Wall Street Zen upgraded shares of Independence Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Independence Realty Trust currently has an average rating of “Moderate Buy” and a consensus target price of $22.14.

Independence Realty Trust Trading Down 0.2%

IRT opened at $16.14 on Monday. Independence Realty Trust, Inc. has a 1-year low of $15.87 and a 1-year high of $22.26. The company has a market capitalization of $3.77 billion, a PE ratio of 134.50, a PEG ratio of 2.22 and a beta of 0.95. The firm’s 50 day simple moving average is $17.14 and its two-hundred day simple moving average is $17.98.

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, hitting 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 business had revenue of $161.89 million for the quarter, compared to the consensus estimate of $164.78 million. During the same period last year, the firm earned $0.28 earnings per share. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. Equities analysts forecast 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 will be paid on Friday, October 24th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Tuesday, September 30th. Independence Realty Trust’s dividend payout ratio (DPR) 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.