Cbre Investment Management Listed Real Assets LLC Purchases 1,218,559 Shares of Independence Realty Trust, Inc. $IRT

Key Points

• Cbre Investment Management Listed Real Assets LLC increased its holdings in Independence Realty Trust, Inc. by 120.0%, owning about 2.23 million shares valued at $47.4 million following the acquisition of more shares during the 1st quarter.
• Independence Realty Trust's current stock price is $17.65, with a market capitalization of $4.13 billion, while recently reported a quarterly EPS of $0.28.
• Analysts have a consensus rating of “Moderate Buy” for Independence Realty Trust, with forecasts for the company projecting earnings per share of 1.19 for the current year.

Cbre Investment Management Listed Real Assets LLC lifted its position in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 120.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,233,851 shares of the real estate investment trust's stock after purchasing an additional 1,218,559 shares during the period. Cbre Investment Management Listed Real Assets LLC owned about 0.96% of Independence Realty Trust worth $47,425,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Independence Realty Trust by 1.7% in 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 purchasing an additional 554,729 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Independence Realty Trust by 1.3% in the first quarter. Wellington Management Group LLP now owns 13,570,175 shares of the real estate investment trust's stock valued at $288,095,000 after acquiring an additional 171,228 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Independence Realty Trust by 44.2% during the 1st quarter. Deutsche Bank AG now owns 4,876,816 shares of the real estate investment trust's stock valued at $103,535,000 after buying an additional 1,495,132 shares in the last quarter. Charles Schwab Investment Management Inc. boosted 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 buying an additional 57,108 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Independence Realty Trust by 28.8% during the 4th quarter. Northern Trust Corp now owns 3,551,247 shares of the real estate investment trust's stock valued at $70,457,000 after buying an additional 793,403 shares in the last quarter. Institutional investors own 88.25% of the company's stock.

Independence Realty Trust Trading Up 0.5%

NYSE:IRT traded up $0.09 during midday trading on Thursday, hitting $17.81. 533,603 shares of the company traded hands, compared to its average volume of 2,195,950. The firm's fifty day moving average is $17.42 and its 200-day moving average is $18.86. Independence Realty Trust, Inc. has a 12-month low of $16.59 and a 12-month high of $22.26. The firm has a market capitalization of $4.16 billion, a P/E ratio of 148.29, a P/E/G ratio of 2.40 and a beta of 0.94.

Independence Realty Trust (NYSE:IRT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.28 earnings per share for the quarter, meeting 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 company had revenue of $161.89 million for the quarter, compared to analyst estimates of $164.78 million. During the same quarter 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. On average, research analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on IRT shares. Wall Street Zen raised Independence Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. UBS Group decreased their target price on Independence Realty Trust from $24.00 to $21.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. Compass Point upgraded 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 research note on Thursday, July 31st. JMP Securities reiterated a "market outperform" rating and set a $25.00 price objective on shares of Independence Realty Trust in a research note on Monday, May 5th. Finally, Wells Fargo & Company cut their price objective on Independence Realty Trust from $24.00 to $20.00 and set an "overweight" rating for the company in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Independence Realty Trust currently has an average rating of "Moderate Buy" and a consensus target price of $22.11.

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.