Inspire Investing LLC Purchases 8,835 Shares of Independence Realty Trust, Inc. $IRT

Inspire Investing LLC increased its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 54.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,060 shares of the real estate investment trust’s stock after purchasing an additional 8,835 shares during the period. Inspire Investing LLC’s holdings in Independence Realty Trust were worth $443,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Xponance Inc. grew its stake in shares of Independence Realty Trust by 2.1% in the 1st quarter. Xponance Inc. now owns 32,632 shares of the real estate investment trust’s stock worth $693,000 after buying an additional 678 shares in the last quarter. Brooklyn Investment Group boosted its stake 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 worth $27,000 after purchasing an additional 712 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Independence Realty Trust by 0.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 252,949 shares of the real estate investment trust’s stock worth $5,370,000 after purchasing an additional 731 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Independence Realty Trust by 2.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 32,978 shares of the real estate investment trust’s stock worth $700,000 after purchasing an additional 829 shares during the period. Finally, Lindbrook Capital LLC boosted its stake in shares of Independence Realty Trust by 10.7% during the 1st quarter. Lindbrook Capital LLC now owns 8,730 shares of the real estate investment trust’s stock worth $185,000 after purchasing an additional 841 shares during the period. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Price Performance

IRT stock opened at $16.14 on Monday. The firm’s fifty day simple moving average is $17.14 and its 200-day simple moving average is $17.98. The company has a market capitalization of $3.77 billion, a P/E ratio of 134.50, a price-to-earnings-growth ratio of 2.22 and a beta of 0.95. Independence Realty Trust, Inc. has a 12 month low of $15.87 and a 12 month high of $22.26.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28. The business had revenue of $161.89 million for the quarter, compared to the consensus estimate of $164.78 million. Independence Realty Trust had a net margin of 4.31% and a return on equity of 0.78%. During the same period in the prior year, the firm earned $0.28 EPS. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. As a group, sell-side analysts forecast that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Tuesday, September 30th will be paid a $0.17 dividend. 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 payout ratio is currently 566.67%.

Analyst Ratings Changes

A number of research firms recently commented on IRT. Barclays dropped their price target on shares of Independence Realty Trust from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 12th. UBS Group decreased their price objective on shares of Independence Realty Trust from $24.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, July 15th. Compass Point upgraded shares of Independence Realty Trust from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $22.00 to $24.00 in a report on Thursday, July 31st. Wall Street Zen upgraded shares of Independence Realty Trust from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. Finally, Wells Fargo & Company decreased their price objective on shares of Independence Realty Trust from $24.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, August 27th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.14.

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.