Strs Ohio Takes Position in Independence Realty Trust, Inc. $IRT

Strs Ohio purchased a new position in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 42,300 shares of the real estate investment trust's stock, valued at approximately $898,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IRT. D. E. Shaw & Co. Inc. bought a new position in Independence Realty Trust during the fourth quarter worth about $1,781,000. Millennium Management LLC increased its position in shares of Independence Realty Trust by 2,601.9% in the fourth quarter. Millennium Management LLC now owns 837,787 shares of the real estate investment trust's stock valued at $16,622,000 after acquiring an additional 806,780 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Independence Realty Trust by 41.2% in the fourth quarter. ProShare Advisors LLC now owns 74,134 shares of the real estate investment trust's stock valued at $1,471,000 after acquiring an additional 21,630 shares during the last quarter. State of Wyoming increased its position in shares of Independence Realty Trust by 49.2% in the fourth quarter. State of Wyoming now owns 4,355 shares of the real estate investment trust's stock valued at $86,000 after acquiring an additional 1,437 shares during the last quarter. Finally, Twinbeech Capital LP acquired a new stake in shares of Independence Realty Trust in the fourth quarter valued at about $883,000. 88.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Independence Realty Trust Trading Up 0.9%

Independence Realty Trust stock opened at $17.08 on Friday. Independence Realty Trust, Inc. has a 1-year low of $16.59 and a 1-year high of $22.26. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 142.33, a P/E/G ratio of 2.33 and a beta of 0.96. The firm has a 50 day simple moving average of $17.39 and a 200 day simple moving average of $18.52.

Independence Realty Trust (NYSE:IRT - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.28. Independence Realty Trust had a net margin of 4.31% and a return on equity of 0.78%. The company had revenue of $161.89 million during the quarter, compared to analyst estimates of $164.78 million. During the same period in the previous year, the business earned $0.28 earnings per share. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. On average, equities research analysts forecast 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. Investors of record on Tuesday, September 30th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 4.0%. Independence Realty Trust's payout ratio is currently 566.67%.

Independence Realty Trust 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.

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