Independence Realty Trust, Inc. $IRT Stock Position Boosted by Atria Investments Inc

Atria Investments Inc raised its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 17.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,381 shares of the real estate investment trust’s stock after buying an additional 8,228 shares during the period. Atria Investments Inc’s holdings in Independence Realty Trust were worth $962,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research firms have recently commented on IRT. Compass Point raised Independence Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $22.00 to $24.00 in a research note on Thursday, July 31st. 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. UBS Group dropped 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. Weiss Ratings restated a “hold (c-)” rating on shares of Independence Realty Trust in a research report on Friday, October 31st. Finally, Wall Street Zen cut shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Independence Realty Trust has an average rating of “Moderate Buy” and a consensus target price of $22.14.

Independence Realty Trust Trading Up 3.0%

NYSE IRT opened at $16.45 on Friday. Independence Realty Trust, Inc. has a 1 year low of $15.06 and a 1 year high of $22.26. The company has a market cap of $3.93 billion, a PE ratio of 164.56, a PEG ratio of 2.21 and a beta of 0.98. The stock’s 50-day moving average price is $16.62 and its two-hundred day moving average price is $17.55.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Independence Realty Trust had a return on equity of 0.62% and a net margin of 3.42%.The firm had revenue of $166.89 million during the quarter, compared to analyst estimates of $168.31 million. 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. Research analysts forecast that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, September 30th. Independence Realty Trust’s payout ratio is 680.00%.

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.