Trivium Point Advisory LLC Decreases Stock Holdings in Independence Realty Trust, Inc. $IRT

Trivium Point Advisory LLC lowered its position in Independence Realty Trust, Inc. (NYSE:IRT) by 7.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 109,345 shares of the real estate investment trust’s stock after selling 8,850 shares during the period. Trivium Point Advisory LLC’s holdings in Independence Realty Trust were worth $1,934,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of IRT. Brooklyn Investment Group grew its holdings 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 worth $27,000 after purchasing an additional 712 shares during the last quarter. UMB Bank n.a. grew its stake in Independence Realty Trust by 189.5% during the 2nd quarter. UMB Bank n.a. now owns 2,883 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 1,887 shares during the last quarter. Headlands Technologies LLC purchased a new position in Independence Realty Trust during the 1st quarter worth $53,000. GKV Capital Management Co. Inc. acquired a new position in Independence Realty Trust during the 1st quarter valued at about $57,000. Finally, Wealthquest Corp purchased a new stake in Independence Realty Trust in the first quarter valued at about $85,000. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

IRT stock opened at $16.34 on Tuesday. The company has a market capitalization of $3.82 billion, a P/E ratio of 136.13, a price-to-earnings-growth ratio of 2.28 and a beta of 0.96. Independence Realty Trust, Inc. has a 12 month low of $16.31 and a 12 month high of $22.26. The firm’s fifty day simple moving average is $17.32 and its 200-day simple moving average is $18.28.

Independence Realty Trust (NYSE:IRT) last issued 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. The firm had revenue of $161.89 million during the quarter, compared to analysts’ expectations of $164.78 million. Independence Realty Trust had a net margin of 4.31% and a return on equity of 0.78%. During the same quarter last year, the company posted $0.28 earnings per share. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. As a group, sell-side analysts forecast 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, October 24th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.2%. Independence Realty Trust’s dividend payout ratio (DPR) is presently 566.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays dropped 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 note on Tuesday, August 12th. Compass Point upgraded shares of Independence Realty Trust from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $22.00 to $24.00 in a research note on Thursday, July 31st. Wall Street Zen lowered shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. Wells Fargo & Company decreased their price target on shares of Independence Realty Trust from $24.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, August 27th. Finally, UBS Group dropped 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 report on Tuesday, July 15th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.14.

About Independence Realty Trust

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.