Thrivent Financial for Lutherans Acquires 173,165 Shares of Independence Realty Trust, Inc. $IRT

Thrivent Financial for Lutherans increased its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 92.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 360,215 shares of the real estate investment trust’s stock after acquiring an additional 173,165 shares during the quarter. Thrivent Financial for Lutherans owned about 0.15% of Independence Realty Trust worth $6,372,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. acquired a new stake in Independence Realty Trust in the 2nd quarter worth $557,000. Geneos Wealth Management Inc. grew its position in Independence Realty Trust by 21.0% during the second quarter. Geneos Wealth Management Inc. now owns 32,969 shares of the real estate investment trust’s stock worth $583,000 after buying an additional 5,719 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Independence Realty Trust by 5.8% during the second quarter. CANADA LIFE ASSURANCE Co now owns 482,220 shares of the real estate investment trust’s stock valued at $8,536,000 after acquiring an additional 26,398 shares during the period. Tower Research Capital LLC TRC increased its stake in Independence Realty Trust by 205.4% during the second quarter. Tower Research Capital LLC TRC now owns 35,667 shares of the real estate investment trust’s stock valued at $631,000 after acquiring an additional 23,987 shares during the period. Finally, Two Sigma Securities LLC acquired a new position in Independence Realty Trust in the 2nd quarter valued at approximately $362,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Independence Realty Trust Stock Performance

Shares of NYSE IRT opened at $17.06 on Friday. The stock has a market cap of $4.08 billion, a PE ratio of 170.62, a PEG ratio of 2.37 and a beta of 1.01. The business has a fifty day moving average of $16.50 and a two-hundred day moving average of $17.10. Independence Realty Trust, Inc. has a 52-week low of $15.06 and a 52-week high of $21.86.

Independence Realty Trust (NYSE:IRT) last posted its earnings results on Wednesday, October 29th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $167.14 million during the quarter, compared to the consensus estimate of $168.31 million. Independence Realty Trust had a return on equity of 0.62% and a net margin of 3.42%.During the same period in the previous year, the company posted $0.29 EPS. Independence Realty Trust has set its FY 2025 guidance at 1.200-1.210 EPS. Analysts predict that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.68 annualized dividend and a dividend yield of 4.0%. Independence Realty Trust’s dividend payout ratio (DPR) is presently 680.00%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Independence Realty Trust in a report on Monday. Wall Street Zen downgraded shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Barclays boosted their price target on shares of Independence Realty Trust from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. KeyCorp reduced their price objective on shares of Independence Realty Trust from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, December 4th. Finally, Wells Fargo & Company decreased 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. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.56.

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.