SG Americas Securities LLC Acquires 21,174 Shares of Independence Realty Trust, Inc. $IRT

SG Americas Securities LLC increased its holdings in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 197.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,872 shares of the real estate investment trust's stock after purchasing an additional 21,174 shares during the period. SG Americas Securities LLC's holdings in Independence Realty Trust were worth $564,000 at the end of the most recent quarter.

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A number of other institutional investors also recently added to or reduced their stakes in IRT. Deutsche Bank AG raised its holdings in shares of 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 worth $103,535,000 after buying an additional 1,495,132 shares in the last quarter. Nuveen LLC acquired a new position in Independence Realty Trust during the first quarter worth $29,149,000. Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Independence Realty Trust by 120.0% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,233,851 shares of the real estate investment trust's stock valued at $47,425,000 after acquiring an additional 1,218,559 shares during the period. Woodline Partners LP bought a new position in shares of Independence Realty Trust during the first quarter valued at $23,829,000. Finally, Jennison Associates LLC boosted its stake in shares of Independence Realty Trust by 12.9% in the 2nd 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. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Stock Performance

Shares of IRT opened at $17.08 on Thursday. The business's fifty day moving average price is $16.38 and its two-hundred day moving average price is $17.29. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 170.78, a PEG ratio of 2.36 and a beta of 0.98. Independence Realty Trust, Inc. has a 52 week low of $15.06 and a 52 week high of $22.13.

Independence Realty Trust (NYSE:IRT - Get Free Report) last issued its quarterly 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 company earned $0.29 EPS. Independence Realty Trust has set its FY 2025 guidance at 1.200-1.210 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 announced a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Tuesday, September 30th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, September 30th. Independence Realty Trust's dividend payout ratio (DPR) is 680.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Barclays lifted their price target on shares of Independence Realty Trust from $20.00 to $21.00 and gave the company an "equal weight" rating in a report on Tuesday. Wells Fargo & Company reduced 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. UBS Group dropped their price target on Independence Realty Trust from $21.00 to $19.00 and set a "buy" rating for the company in a report on Monday, November 10th. Weiss Ratings reissued a "hold (c)" rating on shares of Independence Realty Trust in a research note on Thursday, November 20th. Finally, Wall Street Zen lowered Independence Realty Trust from a "hold" rating to a "sell" rating in a research note on Saturday, November 1st. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.17.

Get Our Latest Stock Analysis on Independence Realty Trust

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.

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