21,466 Shares in Independence Realty Trust, Inc. $IRT Bought by Dynamic Technology Lab Private Ltd

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

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Independence Realty Trust by 1.7% during the first quarter. Vanguard Group Inc. now owns 32,806,493 shares of the real estate investment trust's stock worth $696,482,000 after acquiring an additional 554,729 shares in the last quarter. Wellington Management Group LLP boosted its stake in Independence Realty Trust by 1.3% during the first quarter. Wellington Management Group LLP now owns 13,570,175 shares of the real estate investment trust's stock worth $288,095,000 after acquiring an additional 171,228 shares in the last quarter. Deutsche Bank AG boosted its stake in Independence Realty Trust by 44.2% during the first quarter. Deutsche Bank AG now owns 4,876,816 shares of the real estate investment trust's stock worth $103,535,000 after acquiring an additional 1,495,132 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Independence Realty Trust by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,618,723 shares of the real estate investment trust's stock worth $76,825,000 after buying an additional 57,108 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC raised its holdings in 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 worth $47,425,000 after buying an additional 1,218,559 shares during the last quarter. 88.25% of the stock is owned by institutional investors.

Independence Realty Trust Price Performance

Shares of IRT stock opened at $17.73 on Friday. The firm has a 50-day moving average of $17.44 and a 200-day moving average of $18.66. The company has a market cap of $4.15 billion, a P/E ratio of 147.75, a P/E/G ratio of 2.39 and a beta of 0.96. Independence Realty Trust, Inc. has a one year low of $16.59 and a one year high of $22.26.

Independence Realty Trust (NYSE:IRT - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28. The company had revenue of $161.89 million during the quarter, compared to the consensus estimate of $164.78 million. Independence Realty Trust had a net margin of 4.31% and a return on equity of 0.78%. During the same quarter in the prior year, the company posted $0.28 earnings per share. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. As a group, research analysts expect that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, September 30th. Independence Realty Trust's dividend payout ratio (DPR) is 566.67%.

Analyst Ratings Changes

Several research firms have weighed in on IRT. Barclays lowered their price objective on shares of Independence Realty Trust from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 12th. Wall Street Zen downgraded shares of Independence Realty Trust from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Wells Fargo & Company lowered 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 report on Wednesday, August 27th. UBS Group lowered their price objective on shares of Independence Realty Trust from $24.00 to $21.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. Finally, Compass Point upgraded shares of Independence Realty Trust from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $22.00 to $24.00 in a report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Independence Realty Trust has an average rating of "Moderate Buy" and an average price target of $22.14.

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.

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