Leeward Investments LLC MA Buys 849,818 Shares of Independence Realty Trust, Inc. $IRT

Key Points

• Leeward Investments acquired 849,818 shares of Independence Realty Trust in the third quarter, worth approximately $12.35 million and representing a 0.36% stake. Institutional investors collectively own 88.25% of the REIT.
• IRT shares opened at $14.96, near the bottom of their 52-week range. The company reported $0.01 in quarterly EPS, missing estimates of $0.27, while revenue rose 3.2% year over year to $167.24 million.
• Independence Realty Trust pays a quarterly dividend of $0.18, or $0.72 annually, yielding about 4.8%. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $19.39.

Leeward Investments LLC MA acquired a new stake in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 849,818 shares of the real estate investment trust's stock, valued at approximately $12,348,000. Leeward Investments LLC MA owned 0.36% of Independence Realty Trust as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Sunbelt Securities Inc. lifted its stake in Independence Realty Trust by 84.4% in the first quarter. Sunbelt Securities Inc. now owns 3,550 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 1,625 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Independence Realty Trust by 73.2% in the first quarter. Assetmark Inc. now owns 3,630 shares of the real estate investment trust's stock valued at $54,000 after buying an additional 1,534 shares during the period. State of Wyoming bought a new stake in shares of Independence Realty Trust during the first quarter worth $62,000. Nykredit A S bought a new stake in shares of Independence Realty Trust during the second quarter worth $72,000. Finally, Clearstead Trust LLC bought a new stake in shares of Independence Realty Trust during the second quarter worth $73,000. 88.25% of the stock is owned by institutional investors.

Independence Realty Trust Price Performance

IRT stock opened at $14.96 on Monday. The company has a 50 day simple moving average of $15.35 and a 200 day simple moving average of $16.07. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 83.14 and a beta of 0.96. Independence Realty Trust, Inc. has a 1 year low of $14.33 and a 1 year high of $17.79.

Independence Realty Trust (NYSE:IRT - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.26). The company had revenue of $167.24 million during the quarter, compared to the consensus estimate of $166.93 million. Independence Realty Trust had a net margin of 6.52% and a return on equity of 1.22%. Independence Realty Trust's revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 EPS. Independence Realty Trust has set its FY 2026 guidance at 1.130-1.150 EPS. On average, equities research analysts anticipate that Independence Realty Trust, Inc. will post 1.14 EPS for the current fiscal year.

Independence Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Wednesday, September 30th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Wednesday, September 30th. Independence Realty Trust's dividend payout ratio is presently 400.00%.

Analysts Set New Price Targets

A number of brokerages recently commented on IRT. Wells Fargo & Company dropped their price objective on shares of Independence Realty Trust from $19.00 to $18.00 and set an "overweight" rating on the stock in a report on Monday, October 19th. Weiss Ratings raised shares of Independence Realty Trust from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. Royal Bank Of Canada upped their target price on shares of Independence Realty Trust from $18.00 to $19.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded Independence Realty Trust from a "strong sell" rating to a "sell" rating in a report on Saturday, August 15th. Finally, UBS Group lowered their target price on Independence Realty Trust from $18.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Independence Realty Trust currently has a consensus rating of "Moderate Buy" and an average target price of $19.39.

Independence Realty Trust Profile

Independence Realty Trust, Inc NYSE: IRT is a real estate investment trust that owns, operates and acquires multifamily apartment communities in the United States. The company focuses on providing rental housing, with properties generally located in markets that offer population growth, employment opportunities and attractive long-term housing demand.

IRT's portfolio is concentrated primarily in the Southeast and other select U.S. growth markets, including communities in states such as Georgia, North Carolina, South Carolina, Tennessee, Florida, Texas and Colorado.

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