Walleye Capital LLC Grows Stock Holdings in Independence Realty Trust, Inc. $IRT

Key Points

• Walleye Capital LLC increased its holdings in Independence Realty Trust by 584.5%, acquiring an additional 73,920 shares, bringing its total to 86,566 shares worth approximately $1.84 million.
• Independence Realty Trust's stock has risen by 0.8%, with a current price of $17.86 and a market capitalization of $4.18 billion.
• Several institutional investors have also recently modified their stakes in Independence Realty Trust, collectively owning 88.25% of the company's stock.

Walleye Capital LLC lifted its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 584.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 86,566 shares of the real estate investment trust's stock after acquiring an additional 73,920 shares during the period. Walleye Capital LLC's holdings in Independence Realty Trust were worth $1,838,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in IRT. Vanguard Group Inc. lifted its stake in Independence Realty Trust by 1.7% in the first quarter. Vanguard Group Inc. now owns 32,806,493 shares of the real estate investment trust's stock worth $696,482,000 after purchasing an additional 554,729 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Independence Realty Trust by 1.3% during the first quarter. Wellington Management Group LLP now owns 13,570,175 shares of the real estate investment trust's stock valued at $288,095,000 after buying an additional 171,228 shares during the period. Deutsche Bank AG increased its position in shares of Independence Realty Trust by 44.2% during the first quarter. Deutsche Bank AG now owns 4,876,816 shares of the real estate investment trust's stock valued at $103,535,000 after buying an additional 1,495,132 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Independence Realty Trust by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,618,723 shares of the real estate investment trust's stock worth $76,825,000 after purchasing an additional 57,108 shares during the period. Finally, Northern Trust Corp grew its holdings in Independence Realty Trust by 28.8% in the fourth quarter. Northern Trust Corp now owns 3,551,247 shares of the real estate investment trust's stock worth $70,457,000 after purchasing an additional 793,403 shares during the period. 88.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IRT has been the topic of a number of recent research reports. Barclays cut their price objective on shares of Independence Realty Trust from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 12th. JMP Securities restated a "market outperform" rating and set a $25.00 price objective on shares of Independence Realty Trust in a research report on Monday, May 5th. Compass Point upgraded shares of Independence Realty Trust from a "neutral" rating to a "buy" rating and increased their price target for the stock from $22.00 to $24.00 in a research report on Thursday, July 31st. Wells Fargo & Company decreased their price objective 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. Finally, UBS Group decreased their price objective 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. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $22.11.

Independence Realty Trust Trading Up 1.3%

Shares of IRT stock traded up $0.23 during trading hours on Friday, reaching $18.10. 2,085,526 shares of the stock were exchanged, compared to its average volume of 2,579,296. Independence Realty Trust, Inc. has a 12-month low of $16.59 and a 12-month high of $22.26. The company's 50-day moving average price is $17.43 and its 200-day moving average price is $18.81. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 150.79, a price-to-earnings-growth ratio of 2.49 and a beta of 0.96.

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, hitting analysts' consensus estimates of $0.28. Independence Realty Trust had a net margin of 4.31% and a return on equity of 0.78%. The firm had revenue of $161.89 million during the quarter, compared to analysts' expectations of $164.78 million. During the same period in the previous year, the company earned $0.28 EPS. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. On average, sell-side analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

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.