Ameritas Advisory Services LLC Sells 25,604 Shares of Independence Realty Trust, Inc. $IRT

Key Points

• Ameritas Advisory Services LLC reduced its stake in Independence Realty Trust by 57.3%, selling over 25,000 shares, leaving them with approximately 19,000 shares valued at $338,000.
• Wall Street analysts are mixed on Independence Realty Trust, with price targets ranging from $20.00 to $24.00 and a consensus rating of "Moderate Buy" according to MarketBeat.
• The company recently announced a quarterly dividend of $0.17 per share, yielding 4.2%, despite a high dividend payout ratio of 566.67%.

Ameritas Advisory Services LLC trimmed its position in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 57.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,083 shares of the real estate investment trust's stock after selling 25,604 shares during the quarter. Ameritas Advisory Services LLC's holdings in Independence Realty Trust were worth $338,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group raised its holdings in Independence Realty Trust by 131.4% in the 1st quarter. Brooklyn Investment Group now owns 1,254 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 712 shares during the period. UMB Bank n.a. grew its position in shares of Independence Realty Trust by 189.5% in the second quarter. UMB Bank n.a. now owns 2,883 shares of the real estate investment trust's stock valued at $51,000 after purchasing an additional 1,887 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Independence Realty Trust in the first quarter worth about $53,000. GKV Capital Management Co. Inc. acquired a new position in shares of Independence Realty Trust during the 1st quarter worth about $57,000. Finally, Wealthquest Corp bought a new stake in Independence Realty Trust during the 1st quarter valued at approximately $85,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wells Fargo & Company dropped their price target on 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. Weiss Ratings reissued a "hold (c)" rating on shares of Independence Realty Trust in a report on Saturday, September 27th. Wall Street Zen raised shares of Independence Realty Trust from a "sell" rating to a "hold" rating in a research report on Friday. Compass Point raised Independence Realty Trust from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $22.00 to $24.00 in a report on Thursday, July 31st. Finally, UBS Group lowered their price objective on 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. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.14.

Independence Realty Trust Stock Down 0.9%

Shares of IRT opened at $16.17 on Tuesday. The company has a 50-day moving average price of $17.21 and a two-hundred day moving average price of $18.12. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 134.75, a P/E/G ratio of 2.25 and a beta of 0.95. Independence Realty Trust, Inc. has a 12 month low of $16.11 and a 12 month high of $22.26.

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

Independence Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Tuesday, September 30th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.68 dividend on an annualized basis and a yield of 4.2%. Independence Realty Trust's dividend payout ratio is 566.67%.

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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