Massachusetts Financial Services Co. MA Decreases Stake in Independence Realty Trust, Inc. $IRT

by · The Cerbat Gem

Massachusetts Financial Services Co. MA lessened its holdings in Independence Realty Trust, Inc. (NYSE:IRT – Free Report) by 5.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,711,732 shares of the real estate investment trust’s stock after selling 231,966 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.59% of Independence Realty Trust worth $60,835,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. IFM Investors Pty Ltd lifted its holdings in Independence Realty Trust by 1.7% during the third quarter. IFM Investors Pty Ltd now owns 37,925 shares of the real estate investment trust’s stock worth $627,000 after acquiring an additional 628 shares during the period. Perigon Wealth Management LLC increased its position in shares of Independence Realty Trust by 5.6% during the 3rd quarter. Perigon Wealth Management LLC now owns 12,357 shares of the real estate investment trust’s stock valued at $203,000 after purchasing an additional 658 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Independence Realty Trust by 1.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 73,270 shares of the real estate investment trust’s stock valued at $1,296,000 after purchasing an additional 759 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Independence Realty Trust by 1.1% during the 2nd quarter. American Century Companies Inc. now owns 70,678 shares of the real estate investment trust’s stock worth $1,250,000 after purchasing an additional 789 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Independence Realty Trust by 3.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 25,896 shares of the real estate investment trust’s stock worth $458,000 after buying an additional 861 shares during the last quarter. 88.25% of the stock is owned by institutional investors.

Independence Realty Trust Trading Up 1.2%

IRT opened at $17.02 on Thursday. Independence Realty Trust, Inc. has a 12 month low of $15.06 and a 12 month high of $21.86. The company has a market cap of $4.07 billion, a PE ratio of 170.17, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. The company has a 50 day moving average of $17.06 and a 200 day moving average of $16.98.

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

Independence Realty Trust Announces Dividend

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

Analyst Ratings Changes

IRT has been the subject of a number of research analyst reports. Citigroup restated an “outperform” rating on shares of Independence Realty Trust in a report on Friday, January 9th. UBS Group raised their price target on shares of Independence Realty Trust from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Independence Realty Trust in a research note on Monday, December 29th. Wall Street Zen downgraded Independence Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Finally, Colliers Securities cut Independence Realty Trust from a “moderate buy” rating to a “hold” rating in a research report on Thursday, December 4th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.35.

Get Our Latest Report on Independence Realty Trust

Independence Realty Trust Company 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.

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