IFP Advisors Inc Sells 1,106 Shares of Independence Realty Trust, Inc. $IRT

IFP Advisors Inc decreased its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 16.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,756 shares of the real estate investment trust’s stock after selling 1,106 shares during the quarter. IFP Advisors Inc’s holdings in Independence Realty Trust were worth $102,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Blair William & Co. IL grew its stake in Independence Realty Trust by 0.5% in the second quarter. Blair William & Co. IL now owns 688,985 shares of the real estate investment trust’s stock worth $12,188,000 after purchasing an additional 3,546 shares in the last quarter. Independent Solutions Wealth Management LLC grew its stake in Independence Realty Trust by 17.3% in the second quarter. Independent Solutions Wealth Management LLC now owns 21,352 shares of the real estate investment trust’s stock worth $378,000 after purchasing an additional 3,155 shares in the last quarter. KLP Kapitalforvaltning AS grew its stake in Independence Realty Trust by 8.1% in the second quarter. KLP Kapitalforvaltning AS now owns 47,900 shares of the real estate investment trust’s stock worth $854,000 after purchasing an additional 3,600 shares in the last quarter. Truist Financial Corp grew its stake in Independence Realty Trust by 6.2% in the second quarter. Truist Financial Corp now owns 30,456 shares of the real estate investment trust’s stock worth $539,000 after purchasing an additional 1,789 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Independence Realty Trust by 7.2% in the second quarter. Janney Montgomery Scott LLC now owns 23,827 shares of the real estate investment trust’s stock worth $422,000 after purchasing an additional 1,590 shares in the last quarter. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Trading Down 0.2%

Shares of IRT opened at $16.04 on Monday. Independence Realty Trust, Inc. has a 12 month low of $15.87 and a 12 month high of $22.26. The stock has a fifty day moving average price of $17.05 and a 200-day moving average price of $17.81. The firm has a market cap of $3.75 billion, a PE ratio of 133.67, a P/E/G ratio of 2.21 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, meeting the consensus estimate of $0.28. Independence Realty Trust had a return on equity of 0.78% and a net margin of 4.31%.The firm had revenue of $161.89 million during the quarter, compared to analyst estimates of $164.78 million. During the same quarter 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, research analysts forecast that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.17 per share. 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 dividend payout ratio is currently 566.67%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on IRT shares. Weiss Ratings reissued a “hold (c)” rating on shares of Independence Realty Trust in a research note on Wednesday, October 8th. Wall Street Zen upgraded Independence Realty Trust from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. Compass Point upgraded Independence Realty Trust from a “neutral” rating to a “buy” rating and upped their target price for the stock from $22.00 to $24.00 in a report on Thursday, July 31st. Wells Fargo & Company lowered their target price on Independence Realty Trust from $24.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, August 27th. Finally, Barclays lowered their target price on Independence Realty Trust from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Tuesday, August 12th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.14.

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.