Independence Realty Trust, Inc. $IRT Stake Decreased by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc cut its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 31.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,073 shares of the real estate investment trust’s stock after selling 30,400 shares during the period. Ensign Peak Advisors Inc’s holdings in Independence Realty Trust were worth $1,187,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Independence Realty Trust by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 32,806,493 shares of the real estate investment trust’s stock valued at $696,482,000 after acquiring an additional 554,729 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Independence Realty Trust by 1.3% during the first quarter. Wellington Management Group LLP now owns 13,570,175 shares of the real estate investment trust’s stock valued at $288,095,000 after purchasing an additional 171,228 shares during the period. Jennison Associates LLC raised its stake in shares of Independence Realty Trust by 12.9% during the second quarter. Jennison Associates LLC now owns 6,926,454 shares of the real estate investment trust’s stock valued at $122,529,000 after purchasing an additional 789,515 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Independence Realty Trust by 2.3% in the second quarter. Geode Capital Management LLC now owns 6,190,693 shares of the real estate investment trust’s stock worth $109,524,000 after purchasing an additional 138,817 shares during the period. Finally, Deutsche Bank AG grew its position in Independence Realty Trust by 44.2% in the 1st quarter. Deutsche Bank AG now owns 4,876,816 shares of the real estate investment trust’s stock valued at $103,535,000 after buying an additional 1,495,132 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on IRT. UBS Group dropped their price target on shares of Independence Realty Trust from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Wells Fargo & Company dropped 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. Barclays upped their target price on Independence Realty Trust from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Wall Street Zen cut Independence Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Independence Realty Trust in a research note on Wednesday. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.17.

Independence Realty Trust Stock Performance

Independence Realty Trust stock opened at $17.15 on Friday. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 171.52, a price-to-earnings-growth ratio of 2.36 and a beta of 0.98. Independence Realty Trust, Inc. has a 1 year low of $15.06 and a 1 year high of $22.11. The firm’s 50 day moving average price is $16.38 and its two-hundred day moving average price is $17.27.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $167.14 million for the quarter, compared to the consensus estimate 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 period in the prior 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 analysts predict that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.0%. The ex-dividend date was Tuesday, September 30th. Independence Realty Trust’s payout ratio 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.