Cbre Investment Management Listed Real Assets LLC Buys 732,689 Shares of Independence Realty Trust, Inc. $IRT

Cbre Investment Management Listed Real Assets LLC increased its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 32.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,966,540 shares of the real estate investment trust’s stock after buying an additional 732,689 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned 1.27% of Independence Realty Trust worth $52,478,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of IRT. Brooklyn Investment Group boosted its stake in shares of Independence Realty Trust by 131.4% in the 1st quarter. Brooklyn Investment Group now owns 1,254 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 712 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in Independence Realty Trust by 551.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,869 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,582 shares during the last quarter. Headlands Technologies LLC acquired a new position in Independence Realty Trust in the first quarter valued at about $53,000. GKV Capital Management Co. Inc. bought a new stake in Independence Realty Trust during the first quarter worth about $57,000. Finally, UMB Bank n.a. increased its holdings in shares of Independence Realty Trust by 189.5% during the second quarter. UMB Bank n.a. now owns 2,883 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 1,887 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IRT has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on Independence Realty Trust from $24.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, August 27th. UBS Group reduced their price objective on Independence Realty Trust from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, July 15th. Weiss Ratings restated a “hold (c-)” rating on shares of Independence Realty Trust in a research note on Friday, October 31st. Wall Street Zen cut Independence Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Finally, Compass Point raised shares of 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. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.14.

Independence Realty Trust Stock Down 1.9%

IRT stock opened at $15.96 on Friday. Independence Realty Trust, Inc. has a twelve month low of $15.06 and a twelve month high of $22.26. The company has a market cap of $3.82 billion, a P/E ratio of 159.59, a PEG ratio of 2.25 and a beta of 0.98. The business has a fifty day moving average of $16.65 and a 200-day moving average of $17.57.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $166.89 million during the quarter, compared to analyst estimates of $168.31 million. Independence Realty Trust had a return on equity of 0.62% and a net margin of 3.42%.During the same quarter in the previous year, the business earned $0.29 earnings per share. Independence Realty Trust has set its FY 2025 guidance at 1.200-1.210 EPS. As a group, equities research analysts anticipate that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Tuesday, September 30th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.68 dividend on an annualized basis and a yield of 4.3%. Independence Realty Trust’s dividend payout ratio (DPR) is presently 680.00%.

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.