AlphaQuest LLC Has $125,000 Stock Holdings in Independence Realty Trust, Inc. $IRT

AlphaQuest LLC lowered its holdings in Independence Realty Trust, Inc. (NYSE:IRTFree Report) by 87.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,612 shares of the real estate investment trust’s stock after selling 52,188 shares during the quarter. AlphaQuest LLC’s holdings in Independence Realty Trust were worth $125,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in IRT. NewEdge Advisors LLC acquired a new position in shares of Independence Realty Trust during the first quarter worth approximately $209,000. Goldman Sachs Group Inc. grew its stake in shares of Independence Realty Trust by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,935,487 shares of the real estate investment trust’s stock worth $62,320,000 after acquiring an additional 420,682 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Independence Realty Trust by 7.2% during the second quarter. Janney Montgomery Scott LLC now owns 23,827 shares of the real estate investment trust’s stock worth $422,000 after acquiring an additional 1,590 shares during the period. Truist Financial Corp raised its stake in Independence Realty Trust by 6.2% during the 2nd quarter. Truist Financial Corp now owns 30,456 shares of the real estate investment trust’s stock valued at $539,000 after purchasing an additional 1,789 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its stake in Independence Realty Trust by 8.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 47,900 shares of the real estate investment trust’s stock valued at $854,000 after purchasing an additional 3,600 shares during the last quarter. 88.25% of the stock is owned by institutional investors.

More Independence Realty Trust News

Here are the key news stories impacting Independence Realty Trust this week:

Independence Realty Trust Stock Down 5.0%

Shares of IRT stock opened at $15.98 on Friday. The company has a market capitalization of $3.82 billion, a P/E ratio of 66.60, a P/E/G ratio of 2.05 and a beta of 1.00. Independence Realty Trust, Inc. has a 12-month low of $15.06 and a 12-month high of $21.86. The firm has a 50-day moving average price of $16.99 and a 200 day moving average price of $16.89.

Independence Realty Trust (NYSE:IRTGet Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $167.13 million during the quarter, compared to analyst estimates of $170.26 million. Independence Realty Trust had a net margin of 8.60% and a return on equity of 1.58%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $0.32 earnings per share. As a group, research analysts expect that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 23rd. Shareholders of record on Wednesday, December 31st were given a $0.17 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.68 annualized dividend and a yield of 4.3%. Independence Realty Trust’s payout ratio is presently 680.00%.

Analyst Upgrades and Downgrades

IRT has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Independence Realty Trust in a research report on Monday, December 29th. Colliers Securities cut shares of Independence Realty Trust from a “moderate buy” rating to a “hold” rating in a research note on Thursday, December 4th. Deutsche Bank Aktiengesellschaft downgraded Independence Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 target price on the stock. in a research report on Tuesday, January 20th. Wall Street Zen lowered Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Finally, BMO Capital Markets upgraded Independence Realty Trust from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $20.00 to $22.00 in a research report on Friday, January 9th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.35.

Check Out Our Latest Stock Report on Independence Realty Trust

Independence Realty Trust Profile

(Free Report)

Independence Realty Trust is a self-administered equity real estate investment trust that acquires, redevelops and manages multi-family communities. The company focuses on workforce housing, targeting Class A and B garden-style apartments in suburban and urban infill locations. Its core activities include sourcing value-add acquisitions, overseeing property renovations and delivering in-house property management services to optimize rental income and occupancy levels.

Headquartered in Wayne, Pennsylvania, Independence Realty Trust maintains a geographically diverse portfolio across several high-growth U.S.

Featured Stories

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Institutional Ownership by Quarter for Independence Realty Trust (NYSE:IRT)

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