Independence Realty Trust, Inc. (NYSE:IRT) Short Interest Down 20.3% in February

20 Mar 2025, 00:42 by Sarita Garza · The Markets Daily

Independence Realty Trust, Inc. (NYSE:IRT – Get Free Report) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 17,310,000 shares, a decrease of 20.3% from the February 13th total of 21,710,000 shares. Based on an average daily trading volume, of 1,830,000 shares, the short-interest ratio is currently 9.5 days. Approximately 7.5% of the company’s shares are sold short.

Independence Realty Trust Trading Up 0.6 %

Shares of Independence Realty Trust stock traded up $0.13 during trading hours on Wednesday, reaching $20.94. 2,726,308 shares of the company’s stock were exchanged, compared to its average volume of 2,017,139. The company has a 50 day moving average of $20.01 and a two-hundred day moving average of $20.28. Independence Realty Trust has a fifty-two week low of $15.23 and a fifty-two week high of $22.26. The stock has a market cap of $4.83 billion, a P/E ratio of 116.31, a P/E/G ratio of 2.91 and a beta of 1.18.

Independence Realty Trust (NYSE:IRT – Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.24. Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.11%. As a group, analysts expect that Independence Realty Trust 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 Monday, April 21st. Investors of record on Friday, March 28th will be paid a $0.16 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.64 annualized dividend and a yield of 3.06%. Independence Realty Trust’s dividend payout ratio (DPR) is currently 355.56%.

Institutional Investors Weigh In On Independence Realty Trust

Hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC lifted its stake in Independence Realty Trust by 66.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 521 shares during the last quarter. Assetmark Inc. acquired a new stake in Independence Realty Trust during the third quarter worth approximately $41,000. SRS Capital Advisors Inc. lifted its position in Independence Realty Trust by 627.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 2,008 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Independence Realty Trust by 67.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Independence Realty Trust by 33.9% during the fourth quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 692 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on IRT. Barclays lowered their price objective on shares of Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company initiated coverage on Independence Realty Trust in a report on Wednesday. They set an “overweight” rating and a $24.00 target price for the company. Jefferies Financial Group upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and increased their target price for the stock from $20.00 to $24.00 in a report on Monday, March 10th. Finally, JMP Securities reiterated a “market outperform” rating and set a $22.00 target price on shares of Independence Realty Trust in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Independence Realty Trust currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Check Out Our Latest Analysis on IRT

Independence Realty Trust Company Profile

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