Independence Realty Trust, Inc. $IRT Shares Sold by Aurora Investment Managers LLC.

Aurora Investment Managers LLC. trimmed its position in Independence Realty Trust, Inc. (NYSE:IRT) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 183,185 shares of the real estate investment trust’s stock after selling 643 shares during the period. Independence Realty Trust comprises about 2.0% of Aurora Investment Managers LLC.’s portfolio, making the stock its 21st largest holding. Aurora Investment Managers LLC.’s holdings in Independence Realty Trust were worth $3,241,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of IRT. Deutsche Bank AG boosted its stake in shares of Independence Realty Trust by 44.2% in the first quarter. Deutsche Bank AG now owns 4,876,816 shares of the real estate investment trust’s stock worth $103,535,000 after acquiring an additional 1,495,132 shares during the last quarter. Nuveen LLC acquired a new stake in Independence Realty Trust during the 1st quarter worth $29,149,000. Cbre Investment Management Listed Real Assets LLC boosted its stake in Independence Realty Trust by 120.0% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,233,851 shares of the real estate investment trust’s stock worth $47,425,000 after purchasing an additional 1,218,559 shares during the last quarter. Woodline Partners LP acquired a new stake in Independence Realty Trust during the 1st quarter worth $23,829,000. Finally, MetLife Investment Management LLC boosted its stake in Independence Realty Trust by 257.0% during the 1st quarter. MetLife Investment Management LLC now owns 948,482 shares of the real estate investment trust’s stock worth $20,136,000 after purchasing an additional 682,815 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IRT. UBS Group lowered their price target 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. Wells Fargo & Company lowered their price target 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. 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. Weiss Ratings restated a “hold (c)” rating on shares of Independence Realty Trust in a report on Wednesday. Finally, Wall Street Zen raised Independence Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Independence Realty Trust has an average rating of “Moderate Buy” and a consensus price target of $22.14.

Independence Realty Trust Price Performance

NYSE IRT opened at $16.37 on Thursday. The firm’s 50-day moving average is $17.17 and its two-hundred day moving average is $18.09. Independence Realty Trust, Inc. has a 12 month low of $16.06 and a 12 month high of $22.26. The stock has a market capitalization of $3.83 billion, a P/E ratio of 136.42, a PEG ratio of 2.24 and a beta of 0.95.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.28 EPS 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 firm had revenue of $161.89 million for the quarter, compared to analyst estimates of $164.78 million. During the same period in the prior year, the business posted $0.28 EPS. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. As a group, analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

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 dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.68 annualized dividend and a yield of 4.2%. Independence Realty Trust’s dividend payout ratio is presently 566.67%.

About Independence Realty Trust

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.