Independence Realty Trust, Inc. $IRT Shares Sold by KBC Group NV

KBC Group NV lessened its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 34.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,374 shares of the real estate investment trust’s stock after selling 3,283 shares during the quarter. KBC Group NV’s holdings in Independence Realty Trust were worth $113,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brooklyn Investment Group lifted its holdings in Independence Realty Trust by 131.4% during the 1st quarter. Brooklyn Investment Group now owns 1,254 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 712 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Independence Realty Trust by 0.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 252,949 shares of the real estate investment trust’s stock worth $5,370,000 after acquiring an additional 731 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its stake in Independence Realty Trust by 2.6% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 32,978 shares of the real estate investment trust’s stock worth $700,000 after purchasing an additional 829 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Independence Realty Trust by 3.4% in the second quarter. Sequoia Financial Advisors LLC now owns 25,896 shares of the real estate investment trust’s stock valued at $458,000 after purchasing an additional 861 shares in the last quarter. Finally, State of Michigan Retirement System increased its stake in Independence Realty Trust by 1.6% in the second quarter. State of Michigan Retirement System now owns 56,100 shares of the real estate investment trust’s stock valued at $992,000 after purchasing an additional 900 shares during the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IRT has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of Independence Realty Trust from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 12th. UBS Group reduced their price target on shares of Independence Realty Trust from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Wells Fargo & Company dropped their price objective 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. Compass Point raised Independence Realty Trust from a “neutral” rating to a “buy” rating and boosted their target price for the company from $22.00 to $24.00 in a report on Thursday, July 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Independence Realty Trust in a research report on Thursday. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Independence Realty Trust presently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Independence Realty Trust Trading Up 1.3%

Shares of IRT stock opened at $16.97 on Friday. The company has a market capitalization of $4.06 billion, a P/E ratio of 169.67, a price-to-earnings-growth ratio of 2.32 and a beta of 0.98. The business’s 50 day moving average is $16.38 and its two-hundred day moving average is $17.35. Independence Realty Trust, Inc. has a twelve month low of $15.06 and a twelve month high of $22.26.

Independence Realty Trust (NYSE:IRT) last issued its earnings results 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). Independence Realty Trust had a net margin of 3.42% and a return on equity of 0.62%. The firm had revenue of $167.14 million during the quarter, compared to analysts’ expectations of $168.31 million. During the same period in the previous year, the firm earned $0.29 EPS. 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 earnings per share for the current fiscal year.

Independence Realty Trust Announces Dividend

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