Blair William & Co. IL Raises Holdings in Independence Realty Trust, Inc. $IRT

Blair William & Co. IL grew its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 688,985 shares of the real estate investment trust’s stock after buying an additional 3,546 shares during the period. Blair William & Co. IL owned 0.29% of Independence Realty Trust worth $12,188,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group lifted its position in shares of Independence Realty Trust by 131.4% during the 1st quarter. Brooklyn Investment Group now owns 1,254 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 712 shares during the last quarter. UMB Bank n.a. raised its stake in shares of 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 purchasing 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 valued at $53,000. GKV Capital Management Co. Inc. bought a new stake in shares of Independence Realty Trust during the 1st quarter valued at $57,000. Finally, Wealthquest Corp bought a new stake in shares of Independence Realty Trust during the 1st quarter valued at $85,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Analyst Ratings Changes

IRT has been the topic of a number of analyst reports. Wall Street Zen upgraded Independence Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. Compass Point upgraded Independence Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $22.00 to $24.00 in a research note on Thursday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Independence Realty Trust in a research note on Wednesday. Barclays decreased their price objective 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. Finally, Wells Fargo & Company decreased their target price 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. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.14.

Independence Realty Trust Stock Down 0.2%

Shares of NYSE IRT opened at $16.14 on Friday. The firm has a market capitalization of $3.77 billion, a P/E ratio of 134.50, a P/E/G ratio of 2.23 and a beta of 0.95. The stock’s 50-day simple moving average is $17.14 and its two-hundred day simple moving average is $18.03. Independence Realty Trust, Inc. has a twelve month low of $15.87 and a twelve month high of $22.26.

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 for the quarter, hitting analysts’ consensus estimates of $0.28. The business had revenue of $161.89 million for the quarter, compared to analyst estimates of $164.78 million. Independence Realty Trust had a return on equity of 0.78% and a net margin of 4.31%.During the same period in the prior year, the company earned $0.28 EPS. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. As a group, research analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Announces Dividend

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. The ex-dividend date is Tuesday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 4.2%. Independence Realty Trust’s dividend payout ratio 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.