Independence Realty Trust, Inc. $IRT Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC has reduced its stake in Independence Realty Trust by 36.8%, selling 15,344 shares, which left the fund with 26,360 shares valued at $560,000.
• Independence Realty Trust reported a quarterly earnings per share (EPS) of $0.28, meeting analyst expectations, and set its FY 2025 guidance at $1.195-1.215 EPS.
• Analysts have shown mixed sentiments, with some upgrades and price target reductions; the current consensus rating for Independence Realty Trust is a "Moderate Buy" with an average target price of $22.56.

AlphaQuest LLC lessened its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 36.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 26,360 shares of the real estate investment trust's stock after selling 15,344 shares during the period. AlphaQuest LLC's holdings in Independence Realty Trust were worth $560,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of IRT. Brooklyn Investment Group lifted its holdings in shares of 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 purchasing an additional 712 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Independence Realty Trust in the first quarter valued at $53,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Independence Realty Trust in the first quarter valued at $57,000. GF Fund Management CO. LTD. purchased a new stake in shares of Independence Realty Trust in the fourth quarter valued at $83,000. Finally, Wealthquest Corp purchased a new stake in shares of Independence Realty Trust in the first quarter valued at $85,000. Hedge funds and other institutional investors own 88.25% of the company's stock.

Independence Realty Trust Trading Down 1.0%

Shares of NYSE:IRT opened at $17.4950 on Tuesday. Independence Realty Trust, Inc. has a 1 year low of $16.59 and a 1 year high of $22.26. The business has a fifty day simple moving average of $17.43 and a 200 day simple moving average of $18.88. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 145.79, a P/E/G ratio of 2.44 and a beta of 0.94.

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 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.28. Independence Realty Trust had a return on equity of 0.78% and a net margin of 4.31%.The business had revenue of $161.89 million during the quarter, compared to analyst estimates of $164.78 million. During the same period last year, the company earned $0.28 earnings per share. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. On average, sell-side analysts forecast that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded Independence Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. UBS Group reduced their target price on Independence Realty Trust from $24.00 to $21.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Barclays reduced their target price on Independence Realty Trust from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Tuesday, August 12th. Compass Point upgraded Independence Realty Trust from a "neutral" rating to a "buy" rating and increased their target price for the company from $22.00 to $24.00 in a report on Thursday, July 31st. Finally, 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. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Independence Realty Trust currently has a consensus rating of "Moderate Buy" and an average price target 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.

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