Pensionfund DSM Netherlands Has $945,000 Stock Position in Independence Realty Trust, Inc. $IRT

Key Points

• Pensionfund DSM Netherlands has reduced its stake in Independence Realty Trust, Inc. by 29.9%, selling 19,000 shares and holding 44,500 shares worth approximately $945,000.
• Institutional investors own 88.25% of Independence Realty Trust's stock, with several firms like Deutsche Bank and Cbre Investment Management significantly increasing their stakes.
• Research analysts have set varying price targets for the stock, with a consensus rating of "Moderate Buy" and an average target price of $22.14.

Pensionfund DSM Netherlands reduced its position in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 29.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,500 shares of the real estate investment trust's stock after selling 19,000 shares during the period. Pensionfund DSM Netherlands' holdings in Independence Realty Trust were worth $945,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Independence Realty Trust by 2.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,292 shares of the real estate investment trust's stock worth $442,000 after purchasing an additional 488 shares during the period. Xponance Inc. grew its position in Independence Realty Trust by 2.1% in the 1st quarter. Xponance Inc. now owns 32,632 shares of the real estate investment trust's stock valued at $693,000 after buying an additional 678 shares in the last quarter. Brooklyn Investment Group grew its position in Independence Realty Trust by 131.4% in the 1st quarter. Brooklyn Investment Group now owns 1,254 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 712 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Independence Realty Trust by 0.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 252,949 shares of the real estate investment trust's stock valued at $5,370,000 after buying an additional 731 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its position in Independence Realty Trust by 2.6% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 32,978 shares of the real estate investment trust's stock valued at $700,000 after buying an additional 829 shares in the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. 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. Compass Point upgraded 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 report on Thursday, July 31st. Barclays reduced their price objective on shares of 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. Wells Fargo & Company reduced their price objective 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. Finally, Wall Street Zen lowered shares of Independence Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Independence Realty Trust has an average rating of "Moderate Buy" and an average target price of $22.14.

Independence Realty Trust Price Performance

IRT traded down $0.23 during midday trading on Monday, hitting $17.17. 2,934,426 shares of the company's stock traded hands, compared to its average volume of 2,235,629. The company has a market cap of $4.01 billion, a PE ratio of 143.08, a price-to-earnings-growth ratio of 2.40 and a beta of 0.96. The stock's fifty day simple moving average is $17.43 and its 200-day simple moving average is $18.57. Independence Realty Trust, Inc. has a one year low of $16.59 and a one year high of $22.26.

Independence Realty Trust (NYSE:IRT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.28 EPS 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 the consensus estimate of $164.78 million. During the same quarter last year, the company posted $0.28 earnings per share. 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 year.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.0%. The ex-dividend date is Tuesday, September 30th. Independence Realty Trust's dividend payout ratio (DPR) is 566.67%.

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.