Nuveen LLC Invests $29.15 Million in Independence Realty Trust, Inc. $IRT

Nuveen LLC purchased a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,372,992 shares of the real estate investment trust's stock, valued at approximately $29,149,000. Nuveen LLC owned about 0.59% of Independence Realty Trust at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IRT. Headlands Technologies LLC purchased a new position in shares of Independence Realty Trust during the first quarter valued at approximately $53,000. GF Fund Management CO. LTD. bought a new stake in shares of Independence Realty Trust during the 4th quarter worth approximately $83,000. Wealthquest Corp purchased a new position in Independence Realty Trust during the 1st quarter valued at $85,000. State of Wyoming grew its position in Independence Realty Trust by 49.2% in the 4th quarter. State of Wyoming now owns 4,355 shares of the real estate investment trust's stock valued at $86,000 after acquiring an additional 1,437 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Independence Realty Trust in the first quarter worth $90,000. Institutional investors own 88.25% of the company's stock.

Independence Realty Trust Trading Up 3.5%

Shares of NYSE:IRT traded up $0.5950 on Friday, reaching $17.7550. The company had a trading volume of 403,316 shares, compared to its average volume of 2,199,562. The firm has a market capitalization of $4.15 billion, a PE ratio of 148.38, a PEG ratio of 2.38 and a beta of 0.94. Independence Realty Trust, Inc. has a 52-week low of $16.59 and a 52-week high of $22.26. The firm's 50 day simple moving average is $17.44 and its 200-day simple moving average is $18.92.

Independence Realty Trust (NYSE:IRT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.28 earnings per share for the quarter, hitting analysts' consensus estimates 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 analysts' expectations of $164.78 million. During the same period 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, equities research analysts predict that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IRT shares. Compass Point raised shares of 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 research note on Thursday, July 31st. JMP Securities reiterated a "market outperform" rating and set a $25.00 price objective on shares of Independence Realty Trust in a report on Monday, May 5th. Wall Street Zen upgraded shares of Independence Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. UBS Group reduced their target price on shares of Independence Realty Trust from $24.00 to $21.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Finally, Barclays decreased their price target on shares of Independence Realty Trust from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Independence Realty Trust presently has an average rating of "Moderate Buy" and an average target price of $22.56.

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.