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

Blair William & Co. IL boosted its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 0.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 688,985 shares of the real estate investment trust’s stock after acquiring an additional 3,546 shares during the quarter. Blair William & Co. IL’s holdings in Independence Realty Trust were worth $12,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Independent Solutions Wealth Management LLC boosted its holdings in Independence Realty Trust by 17.3% during the 2nd quarter. Independent Solutions Wealth Management LLC now owns 21,352 shares of the real estate investment trust’s stock valued at $378,000 after acquiring an additional 3,155 shares during the period. KLP Kapitalforvaltning AS boosted its holdings in Independence Realty Trust by 8.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 47,900 shares of the real estate investment trust’s stock valued at $854,000 after acquiring an additional 3,600 shares during the period. Truist Financial Corp boosted its holdings in Independence Realty Trust by 6.2% during the 2nd quarter. Truist Financial Corp now owns 30,456 shares of the real estate investment trust’s stock valued at $539,000 after acquiring an additional 1,789 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Independence Realty Trust by 7.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 23,827 shares of the real estate investment trust’s stock valued at $422,000 after acquiring an additional 1,590 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in Independence Realty Trust by 1.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 138,751 shares of the real estate investment trust’s stock worth $2,453,000 after buying an additional 2,172 shares during the period. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IRT has been the subject of several research analyst reports. Barclays dropped their price objective on Independence Realty Trust from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Tuesday, August 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Independence Realty Trust in a report on Wednesday. Compass Point upgraded Independence Realty Trust from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $22.00 to $24.00 in a report on Thursday, July 31st. Wells Fargo & Company dropped their price objective on Independence Realty Trust from $24.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, August 27th. Finally, UBS Group dropped their price objective on Independence Realty Trust from $24.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, July 15th. Five 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.14.

Independence Realty Trust Stock Performance

Shares of NYSE:IRT opened at $16.14 on Friday. Independence Realty Trust, Inc. has a 52-week low of $15.87 and a 52-week high of $22.26. 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 has a 50 day moving average price of $17.14 and a 200-day moving average price of $18.03.

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 firm had revenue of $161.89 million during the quarter, compared to analyst estimates of $164.78 million. During the same quarter 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. On average, equities analysts forecast that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Tuesday, September 30th will be given a $0.17 dividend. The ex-dividend date of this dividend 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 currently 566.67%.

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.