Venture Visionary Partners LLC Has $450,000 Stake in Independence Realty Trust, Inc. $IRT

Key Points

• Venture Visionary Partners LLC has significantly reduced its stake in Independence Realty Trust, Inc. (IRT) by 86.0%, owning only 21,191 shares after selling 129,897 shares in the first quarter.
• Several institutional investors, including D. E. Shaw & Co. and Principal Financial Group, have recently adjusted their positions in IRT, indicating ongoing interest in the real estate investment trust sector.
• The stock has a consensus rating of Moderate Buy, with an average price target of $22.56, despite recent price adjustments by various brokerages.

Venture Visionary Partners LLC decreased its holdings in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 86.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,191 shares of the real estate investment trust's stock after selling 129,897 shares during the period. Venture Visionary Partners LLC's holdings in Independence Realty Trust were worth $450,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group raised its stake in Independence Realty Trust by 131.4% in the first 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 during the period. Headlands Technologies LLC bought a new position in shares of Independence Realty Trust during the first quarter worth approximately $53,000. GKV Capital Management Co. Inc. bought a new position in shares of Independence Realty Trust during the first quarter worth approximately $57,000. GF Fund Management CO. LTD. bought a new position in shares of Independence Realty Trust during the fourth quarter worth approximately $83,000. Finally, Wealthquest Corp bought a new position in shares of Independence Realty Trust during the first quarter worth approximately $85,000. Institutional investors own 88.25% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IRT shares. Wall Street Zen upgraded Independence Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. UBS Group lowered their target price on Independence Realty Trust from $24.00 to $21.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Barclays reduced their price target 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. JMP Securities reissued a "market outperform" rating and set a $25.00 price target on shares of Independence Realty Trust in a research report on Monday, May 5th. Finally, Wells Fargo & Company reduced their target price on Independence Realty Trust from $24.00 to $20.00 and set an "overweight" rating on the stock in a report on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.11.

Independence Realty Trust Price Performance

Shares of NYSE IRT traded up $0.22 during mid-day trading on Wednesday, hitting $17.64. 351,244 shares of the stock traded hands, compared to its average volume of 2,196,649. The company has a market cap of $4.12 billion, a PE ratio of 146.96, a price-to-earnings-growth ratio of 2.41 and a beta of 0.94. Independence Realty Trust, Inc. has a twelve month low of $16.59 and a twelve month high of $22.26. The firm has a 50 day simple moving average of $17.42 and a two-hundred day simple moving average of $18.87.

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 EPS for the quarter, hitting 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 firm had revenue of $161.89 million for the quarter, compared to the consensus estimate of $164.78 million. During the same period in the previous year, the business earned $0.28 EPS. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. On average, equities research analysts anticipate that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

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.