Pensionfund DSM Netherlands Decreases 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 decreased its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 29.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,500 shares of the real estate investment trust's stock after selling 19,000 shares during the quarter. Pensionfund DSM Netherlands' holdings in Independence Realty Trust were worth $945,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of IRT. Brooklyn Investment Group boosted its position 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. Headlands Technologies LLC acquired a new stake in shares of Independence Realty Trust during the 1st quarter worth approximately $53,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Independence Realty Trust during the 1st quarter worth approximately $57,000. GF Fund Management CO. LTD. acquired a new stake in shares of Independence Realty Trust during the 4th quarter worth approximately $83,000. Finally, Wealthquest Corp acquired a new stake in shares of Independence Realty Trust during the 1st quarter worth approximately $85,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on IRT. Wall Street Zen lowered Independence Realty Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. Compass Point upgraded 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. Barclays cut their target price on shares of Independence Realty Trust from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 12th. UBS Group cut their target price on shares of Independence Realty Trust from $24.00 to $21.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company cut their target price on shares of Independence Realty Trust from $24.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 27th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Independence Realty Trust currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.14.

Independence Realty Trust Trading Up 1.0%

Shares of IRT traded up $0.18 on Thursday, reaching $17.11. The company's stock had a trading volume of 653,315 shares, compared to its average volume of 2,222,325. Independence Realty Trust, Inc. has a twelve month low of $16.59 and a twelve month high of $22.26. The stock has a market capitalization of $4.00 billion, a PE ratio of 142.62, a PEG ratio of 2.33 and a beta of 0.96. The firm has a fifty day moving average of $17.40 and a 200-day moving average of $18.55.

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

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Tuesday, September 30th will be given 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 dividend yield of 4.0%. Independence Realty Trust's dividend payout ratio (DPR) 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.