Aew Capital Management L P Sells 53,200 Shares of Independence Realty Trust, Inc. $IRT

Key Points

• Aew Capital Management L P reduced its stake in Independence Realty Trust by 2.3%, selling 53,200 shares, leaving it with approximately 2,263,715 shares worth around $48 million.
• Independence Realty Trust reported a quarterly EPS of $0.28, meeting analyst expectations, while its revenue fell short at $161.89 million compared to forecasts.
• Analyst ratings for Independence Realty Trust show an average rating of "Moderate Buy" with a consensus target price of $22.56, despite varying price targets set by different analysts.

Aew Capital Management L P trimmed its position in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,263,715 shares of the real estate investment trust's stock after selling 53,200 shares during the period. Independence Realty Trust accounts for 2.3% of Aew Capital Management L P's investment portfolio, making the stock its 14th biggest holding. Aew Capital Management L P owned 0.97% of Independence Realty Trust worth $48,059,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. purchased a new position in Independence Realty Trust during the 4th quarter worth approximately $1,781,000. Principal Financial Group Inc. grew its position in Independence Realty Trust by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 747,252 shares of the real estate investment trust's stock worth $15,864,000 after purchasing an additional 25,124 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Independence Realty Trust by 889.9% during the 1st quarter. Victory Capital Management Inc. now owns 410,801 shares of the real estate investment trust's stock valued at $8,721,000 after acquiring an additional 369,303 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Independence Realty Trust during the 1st quarter valued at $53,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Independence Realty Trust by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,618,723 shares of the real estate investment trust's stock valued at $76,825,000 after acquiring an additional 57,108 shares in the last quarter. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IRT has been the topic of several research analyst reports. Compass Point upgraded shares of Independence Realty Trust from a "neutral" rating to a "buy" rating and boosted their price target for the company from $22.00 to $24.00 in a report on Thursday, July 31st. Barclays lowered 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 report on Tuesday, August 12th. Wall Street Zen raised 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 price objective on shares of Independence Realty Trust from $24.00 to $21.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company reduced their price objective on shares of Independence Realty Trust from $24.00 to $20.00 and set an "overweight" rating for the company in a research note on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Independence Realty Trust has a consensus rating of "Moderate Buy" and a consensus target price of $22.11.

Independence Realty Trust Trading Up 0.4%

Independence Realty Trust stock traded up $0.08 on Thursday, reaching $17.80. 533,603 shares of the stock were exchanged, compared to its average volume of 2,195,950. The stock has a market cap of $4.16 billion, a PE ratio of 148.29, a PEG ratio of 2.40 and a beta of 0.94. Independence Realty Trust, Inc. has a twelve month low of $16.59 and a twelve month high of $22.26. The firm has a fifty day moving average price of $17.42 and a two-hundred day moving average price of $18.86.

Independence Realty Trust (NYSE:IRT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.28 EPS for the quarter, meeting analysts' consensus estimates of $0.28. The business had revenue of $161.89 million during the quarter, compared to analyst estimates 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 business earned $0.28 earnings per share. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. Equities analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

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.