Independence Realty Trust, Inc. $IRT Position Cut by Creative Planning

Creative Planning reduced its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 4.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,086 shares of the real estate investment trust’s stock after selling 4,745 shares during the quarter. Creative Planning’s holdings in Independence Realty Trust were worth $1,682,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group increased its holdings in shares of Independence Realty Trust by 131.4% during the first 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 during the period. Hantz Financial Services Inc. grew its position in Independence Realty Trust by 551.2% in 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 buying an additional 1,582 shares in the last quarter. UMB Bank n.a. increased its stake in Independence Realty Trust by 189.5% during the 2nd quarter. UMB Bank n.a. now owns 2,883 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 1,887 shares during the period. Headlands Technologies LLC bought a new stake in shares of Independence Realty Trust during the 1st quarter worth about $53,000. Finally, GKV Capital Management Co. Inc. bought a new stake in shares of Independence Realty Trust during the 1st quarter worth about $57,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Trading Up 0.0%

Shares of IRT opened at $17.08 on Thursday. The business’s 50-day moving average price is $16.38 and its 200 day moving average price is $17.29. The stock has a market capitalization of $4.08 billion, a P/E ratio of 170.78, a P/E/G 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 $22.13.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $167.14 million for the quarter, compared to analyst estimates of $168.31 million. Independence Realty Trust had a net margin of 3.42% and a return on equity of 0.62%. During the same period last year, the firm earned $0.29 earnings per share. Independence Realty Trust has set its FY 2025 guidance at 1.200-1.210 EPS. On average, research analysts predict that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Tuesday, September 30th. Independence Realty Trust’s payout ratio is currently 680.00%.

Analyst Ratings Changes

A number of research firms recently commented on IRT. Weiss Ratings reiterated a “hold (c)” rating on shares of Independence Realty Trust in a research note on Thursday, November 20th. Wall Street Zen lowered Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Wells Fargo & Company lowered their price target on Independence Realty Trust from $24.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 27th. Compass Point upgraded Independence Realty Trust from a “neutral” rating to a “buy” rating and upped their price objective for the company from $22.00 to $24.00 in a report on Thursday, July 31st. Finally, Barclays raised their target price on Independence Realty Trust from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Independence Realty Trust has a consensus rating of “Moderate Buy” and an average price target of $22.17.

Independence Realty Trust Company 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.