Jane Street Group LLC Has $17.37 Million Stock Holdings in Independence Realty Trust, Inc. $IRT

Key Points

• Jane Street Group LLC significantly increased its investment in Independence Realty Trust by acquiring 650,375 additional shares, raising its total holdings by 387.3% to 818,312 shares, valued at approximately $17.37 million.
• Institutional investors own about 88.25% of Independence Realty Trust, with several hedge funds making new purchases in recent quarters, indicating strong market interest.
• Analyst ratings for Independence Realty Trust vary, with a consensus rating of "Moderate Buy" and a target price of $22.11, despite some analysts lowering their price targets recently.

Jane Street Group LLC raised its position in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 387.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 818,312 shares of the real estate investment trust's stock after buying an additional 650,375 shares during the period. Jane Street Group LLC owned about 0.35% of Independence Realty Trust worth $17,373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of IRT. Deutsche Bank AG increased its holdings in shares of Independence Realty Trust by 44.2% in the first quarter. Deutsche Bank AG now owns 4,876,816 shares of the real estate investment trust's stock valued at $103,535,000 after purchasing an additional 1,495,132 shares in the last quarter. Bamco Inc. NY boosted its stake in Independence Realty Trust by 592.0% in the fourth quarter. Bamco Inc. NY now owns 1,711,746 shares of the real estate investment trust's stock valued at $33,961,000 after acquiring an additional 1,464,400 shares during the last quarter. Nuveen LLC bought a new position in Independence Realty Trust in the first quarter valued at approximately $29,149,000. Cbre Investment Management Listed Real Assets LLC boosted its stake in Independence Realty Trust by 120.0% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,233,851 shares of the real estate investment trust's stock valued at $47,425,000 after acquiring an additional 1,218,559 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Independence Realty Trust by 2,601.9% in the fourth quarter. Millennium Management LLC now owns 837,787 shares of the real estate investment trust's stock valued at $16,622,000 after acquiring an additional 806,780 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company's stock.

Analysts Set New Price Targets

IRT has been the topic of a number of recent research reports. Wells Fargo & Company reduced 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 research note on Wednesday, August 27th. UBS Group reduced 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 research note on Tuesday, July 15th. Barclays reduced 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 research note on Tuesday, August 12th. Wall Street Zen cut shares of Independence Realty Trust from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Compass Point raised shares of Independence Realty Trust from a "neutral" rating to a "buy" rating and raised their price objective for the company from $22.00 to $24.00 in a research note on Thursday, July 31st. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.11.

Independence Realty Trust Stock Down 0.5%

Shares of NYSE:IRT traded down $0.09 during midday trading on Wednesday, reaching $17.53. 1,195,041 shares of the company were exchanged, compared to its average volume of 2,199,012. Independence Realty Trust, Inc. has a fifty-two week low of $16.59 and a fifty-two week high of $22.26. The stock has a fifty day simple moving average of $17.43 and a two-hundred day simple moving average of $18.79. The firm has a market cap of $4.10 billion, a PE ratio of 145.96, a P/E/G ratio of 2.49 and a beta of 0.96.

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

Independence Realty Trust Company 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.