Dynamic Technology Lab Private Ltd Takes Position in Independence Realty Trust, Inc. $IRT

Key Points

• Dynamic Technology Lab Private Ltd has acquired 21,466 shares of Independence Realty Trust, valued at approximately $456,000, showcasing increased institutional interest in the company.
• Independence Realty Trust recently reported a quarterly EPS of $0.28, meeting analysts' expectations, while setting a FY 2025 guidance between 1.195-1.215 EPS.
• The company will pay a quarterly dividend of $0.17 per share on October 24th, representing an annual yield of 3.8%.

Dynamic Technology Lab Private Ltd acquired a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 21,466 shares of the real estate investment trust's stock, valued at approximately $456,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Independence Realty Trust by 2.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,292 shares of the real estate investment trust's stock worth $442,000 after acquiring an additional 488 shares during the last quarter. Xponance Inc. lifted its stake in Independence Realty Trust by 2.1% in the first quarter. Xponance Inc. now owns 32,632 shares of the real estate investment trust's stock valued at $693,000 after buying an additional 678 shares in the last quarter. Brooklyn Investment Group lifted its stake in Independence Realty Trust by 131.4% in the first quarter. Brooklyn Investment Group now owns 1,254 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 712 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Independence Realty Trust by 0.3% in the first quarter. Envestnet Asset Management Inc. now owns 252,949 shares of the real estate investment trust's stock valued at $5,370,000 after buying an additional 731 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its stake in Independence Realty Trust by 2.6% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 32,978 shares of the real estate investment trust's stock valued at $700,000 after buying an additional 829 shares in the last quarter. Institutional investors own 88.25% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. UBS Group cut their price target on shares of Independence Realty Trust from $24.00 to $21.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Wall Street Zen lowered shares of Independence Realty Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. Compass Point raised shares of Independence Realty Trust from a "neutral" rating to a "buy" rating and lifted their price target for the company from $22.00 to $24.00 in a research note on Thursday, July 31st. Barclays cut their price target on shares of Independence Realty Trust from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 12th. Finally, Wells Fargo & Company cut their price objective on shares of 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. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Independence Realty Trust has a consensus rating of "Moderate Buy" and an average target price of $22.14.

Independence Realty Trust Trading Up 1.0%

Shares of NYSE:IRT traded up $0.17 on Wednesday, hitting $17.11. The company had a trading volume of 194,100 shares, compared to its average volume of 2,217,770. Independence Realty Trust, Inc. has a 1-year low of $16.59 and a 1-year high of $22.26. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 142.63, a P/E/G ratio of 2.37 and a beta of 0.96. The stock has a 50 day moving average price of $17.41 and a 200 day moving average price of $18.56.

Independence Realty Trust (NYSE:IRT - Get Free Report) last released 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 net margin of 4.31% and a return on equity of 0.78%. The firm had revenue of $161.89 million for the quarter, compared to the consensus estimate of $164.78 million. During the same period in the previous year, the company earned $0.28 earnings per share. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. Sell-side analysts anticipate that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Tuesday, September 30th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Independence Realty Trust's payout ratio is presently 566.67%.

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.