Jane Street Group LLC Has $17.37 Million Stock 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 increased its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 387.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 818,312 shares of the real estate investment trust's stock after purchasing an additional 650,375 shares during the quarter. Jane Street Group LLC owned about 0.35% of Independence Realty Trust worth $17,373,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of IRT. Brooklyn Investment Group grew its stake in shares of Independence Realty Trust by 131.4% during 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 during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Independence Realty Trust during the first quarter worth $53,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Independence Realty Trust during the first quarter worth $57,000. GF Fund Management CO. LTD. acquired a new stake in shares of Independence Realty Trust during the fourth quarter worth $83,000. Finally, Wealthquest Corp acquired a new stake in shares of Independence Realty Trust during the first quarter worth $85,000. 88.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Barclays dropped 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 report on Tuesday, August 12th. Compass Point raised shares of Independence Realty Trust from a "neutral" rating to a "buy" rating and raised their target price for the company from $22.00 to $24.00 in a research report on Thursday, July 31st. Wall Street Zen downgraded shares of Independence Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. UBS Group decreased their target price on shares of 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. Finally, Wells Fargo & Company decreased their target price on shares of 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. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $22.14.

Independence Realty Trust Stock Performance

Shares of Independence Realty Trust stock traded up $0.14 during midday trading on Friday, hitting $17.20. 3,272,021 shares of the company traded hands, compared to its average volume of 2,273,375. Independence Realty Trust, Inc. has a 12 month low of $16.59 and a 12 month high of $22.26. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 143.29, a PEG ratio of 2.35 and a beta of 0.96. The firm's fifty day moving average price is $17.39 and its 200-day moving average price is $18.49.

Independence Realty Trust (NYSE:IRT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.28 earnings per share for the quarter, hitting analysts' consensus estimates of $0.28. The firm had revenue of $161.89 million for the quarter, compared to analyst estimates of $164.78 million. Independence Realty Trust had a net margin of 4.31% and a return on equity of 0.78%. During the same period in the previous 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 forecast that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.68 annualized dividend and a yield of 4.0%. Independence Realty Trust's dividend payout ratio is currently 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.