Berger Financial Group Inc Reduces Position in Independence Realty Trust, Inc. $IRT

Berger Financial Group Inc decreased its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 280,537 shares of the real estate investment trust’s stock after selling 10,026 shares during the quarter. Berger Financial Group Inc owned 0.12% of Independence Realty Trust worth $4,963,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Independence Realty Trust by 2.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,292 shares of the real estate investment trust’s stock valued at $442,000 after purchasing an additional 488 shares during the last quarter. GAMMA Investing LLC grew its position in Independence Realty Trust by 1,991.6% in the 1st quarter. GAMMA Investing LLC now owns 36,749 shares of the real estate investment trust’s stock worth $7,800,000 after purchasing an additional 34,992 shares during the period. Blue Zone Wealth Advisors LLC raised its stake in Independence Realty Trust by 18.9% during the 1st quarter. Blue Zone Wealth Advisors LLC now owns 266,648 shares of the real estate investment trust’s stock valued at $5,661,000 after buying an additional 42,465 shares during the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC purchased a new stake in Independence Realty Trust during the 1st quarter valued at $278,000. Finally, Kingswood Wealth Advisors LLC lifted its holdings in shares of Independence Realty Trust by 34.9% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 37,035 shares of the real estate investment trust’s stock valued at $791,000 after buying an additional 9,581 shares during the period. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Down 0.1%

IRT stock opened at $16.31 on Friday. Independence Realty Trust, Inc. has a twelve month low of $16.12 and a twelve month high of $22.26. The stock has a market cap of $3.81 billion, a P/E ratio of 135.88, a PEG ratio of 2.25 and a beta of 0.95. The business’s 50-day moving average price is $17.23 and its 200-day moving average price is $18.17.

Independence Realty Trust (NYSE:IRT) last released 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. Independence Realty Trust had a net margin of 4.31% and a return on equity of 0.78%. The company had revenue of $161.89 million during the quarter, compared to analyst estimates of $164.78 million. During the same period in the prior year, the firm posted $0.28 EPS. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. On average, equities research analysts expect that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.17 per share. The ex-dividend date 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 payout ratio is 566.67%.

Wall Street Analysts Forecast Growth

IRT has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Independence Realty Trust in a research report on Saturday, September 27th. Compass Point raised shares of Independence Realty Trust from a “neutral” rating to a “buy” rating and upped their price target for the company from $22.00 to $24.00 in a research report on Thursday, July 31st. UBS Group lowered 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 note on Tuesday, July 15th. Wells Fargo & Company cut their target price on shares of Independence Realty Trust from $24.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, August 27th. Finally, Wall Street Zen raised shares of Independence Realty Trust from a “sell” rating to a “hold” rating in a report on Friday. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.14.

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.