Jane Street Group LLC Increases Holdings in Independence Realty Trust, Inc. $IRT

Key Points

• Jane Street Group LLC increased its holdings in Independence Realty Trust by 387.3%, owning 818,312 shares valued at approximately $17.37 million.
• Independence Realty Trust's stock recently opened at $17.40, reflecting a 1.8% decline, with a market cap of $4.07 billion.
• The company announced a quarterly dividend of $0.17 per share, with a yield of 3.9%, set to be paid on October 24th.

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

Several other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Independence Realty Trust by 2.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,292 shares of the real estate investment trust's stock worth $442,000 after acquiring an additional 488 shares in the last quarter. Xponance Inc. boosted its stake in shares of Independence Realty Trust by 2.1% during the 1st quarter. Xponance Inc. now owns 32,632 shares of the real estate investment trust's stock worth $693,000 after acquiring an additional 678 shares in the last quarter. Brooklyn Investment Group boosted its stake in shares of Independence Realty Trust by 131.4% during 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 in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Independence Realty Trust by 0.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 252,949 shares of the real estate investment trust's stock worth $5,370,000 after acquiring an additional 731 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV raised its position in shares of Independence Realty Trust by 2.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 32,978 shares of the real estate investment trust's stock worth $700,000 after purchasing an additional 829 shares during the last quarter. Hedge funds and other institutional investors own 88.25% of the company's stock.

Independence Realty Trust Stock Down 1.8%

IRT stock opened at $17.40 on Monday. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 145.00, a PEG ratio of 2.40 and a beta of 0.96. The business has a fifty day simple moving average of $17.44 and a 200-day simple moving average of $18.60. Independence Realty Trust, Inc. has a 52 week low of $16.59 and a 52 week high of $22.26.

Independence Realty Trust (NYSE:IRT - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.28 EPS for the quarter, hitting analysts' consensus estimates of $0.28. The business had revenue of $161.89 million during the quarter, compared to the consensus estimate 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. As a group, analysts expect that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Tuesday, September 30th. Independence Realty Trust's dividend payout ratio is presently 566.67%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. UBS Group cut their price objective 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. Barclays cut their price objective on Independence Realty Trust from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 12th. Wall Street Zen downgraded Independence Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. 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 report on Wednesday, August 27th. Finally, Compass Point upgraded 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 research report on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.14.

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.

Want to see what other hedge funds are holding IRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Independence Realty Trust, Inc. (NYSE:IRT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.