Independence Realty Trust
About: Independence Realty Trust Inc is a real estate investment trust (REIT) that acquires, owns, operates, improves and manages multifamily apartment communities across non-gateway U.S. markets. It owns and operates multifamily apartment properties, across non-gateway U.S markets, including Louisville, Memphis, Atlanta, and Raleigh. The company is focused on gaining scale within key amenity-rich submarkets that offer school districts, retail, and various employment centers.
Employees: 952
0
Funds holding %
of 6,809 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
1,998% more call options, than puts
Call options by funds: $986K | Put options by funds: $47K
155% more first-time investments, than exits
New positions opened: 74 | Existing positions closed: 29
33% more funds holding in top 10
Funds holding in top 10: 3 [Q2] → 4 (+1) [Q3]
16% more capital invested
Capital invested by funds: $3.92B [Q2] → $4.54B (+$621M) [Q3]
13% more funds holding
Funds holding: 336 [Q2] → 381 (+45) [Q3]
1.41% more ownership
Funds ownership: 93.17% [Q2] → 94.58% (+1.41%) [Q3]
5% more repeat investments, than reductions
Existing positions increased: 126 | Existing positions reduced: 120
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$21
4%
upside
Avg. target
$22
9%
upside
High target
$23
14%
upside
2 analyst ratings
0 positive
0%
2 neutral
100%
0 negative
0%
Barclays Richard Hightower 25% 1-year accuracy 2 / 8 met price target | 14%upside $23 | Equal-Weight Initiated | 17 Dec 2024 |
BMO Capital John Kim 71% 1-year accuracy 12 / 17 met price target | 4%upside $21 | Market Perform Upgraded | 15 Nov 2024 |
Financial journalist opinion
Based on 3 articles about IRT published over the past 30 days
Neutral
Business Wire
5 days ago
Independence Realty Trust Announces Fourth Quarter 2024 Dividend
PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) announced that today IRT's board of directors declared a quarterly dividend of $0.16 per share of IRT common stock, payable on January 17, 2025 to stockholders of record at the close of business on December 31, 2024. About Independence Realty Trust, Inc. Independence Realty Trust, Inc. (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets inc.
Positive
Seeking Alpha
2 weeks ago
Property Type Round-Up From REITworld 2024
REITs are poised for growth with stabilizing interest rates, low new supply, and robust balance sheets supporting higher rents and long-term asset growth. Healthcare REITs benefit from strong senior housing demand and limited new supply, despite valuation debates and management changes at Healthcare Realty. Multifamily and single-family rental sectors show regional variability, but long-term growth driven by demographic trends.
Positive
Seeking Alpha
2 weeks ago
12 REITs Poised For Potential Outperformance
As REIT prices rise, high-yield opportunities dwindle, making this a good time to focus on dividend growth for better long-term returns. Dividend growth stocks, despite lower initial yields, can surpass higher-yielding stocks over time, offering better yield on cost. Dividend growers often outperform the REIT average in total returns, driven by strong AFFO growth and superior gains in stock price.
Neutral
Business Wire
1 month ago
Independence Realty Trust Scheduled to Participate in Nareit's REITworld Annual Conference
PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) today announced that Scott Schaeffer, Chairman and Chief Executive Officer, Jim Sebra, Chief Financial Officer and President, Jason Delozier, Chief Accounting Officer and Janice Richards, SVP of Operations are scheduled to host meetings with investors and analysts at Nareit's REITworld 2024 Annual Conference in Las Vegas on November 19 and 20. The company has posted its November Investor Presentation on its websi.
Neutral
Seeking Alpha
1 month ago
Independence Realty Trust, Inc. (IRT) Q3 2024 Earnings Call Transcript
Independence Realty Trust, Inc. (IRT) Q3 2024 Earnings Call Transcript
Positive
Zacks Investment Research
1 month ago
Independence Realty Trust (IRT) Matches Q3 FFO Estimates
Independence Realty Trust (IRT) came out with quarterly funds from operations (FFO) of $0.29 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.30 per share a year ago.
Neutral
Business Wire
1 month ago
Independence Realty Trust Announces Third Quarter 2024 Financial Results and ‘BBB' Investment Grade Rating from S&P
PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (“IRT”) (NYSE: IRT), a multifamily apartment REIT, today announced its third quarter 2024 financial results and that it has received a ‘BBB' issuer credit rating and stable outlook from S&P Global Ratings. Third Quarter Highlights Net income available to common shares of $12.4 million for the quarter ended September 30, 2024 compared to $3.9 million for the quarter ended September 30, 2023. Earnings per diluted share of $0.05 fo.
Neutral
Seeking Alpha
2 months ago
U.S. REITs Log Dip In Short Interest In September
Average REIT short interest fell 8 basis points in September to 3.7% of shares outstanding, per S&P Global Market Intelligence data. The hotel sector followed with a 60-basis point drop, while the office sector remained the most-shorted at 5.3% of shares outstanding. Wheeler Real Estate Investment Trust logged the largest increase in short interest, up 16 percentage points to 32.4% of shares outstanding.
Neutral
Business Wire
2 months ago
Independence Realty Trust Reports Minimal Impact on Communities from Hurricane Milton
PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) announced today that its communities in Tampa and Orlando, Florida were minimally impacted by Hurricane Milton. “We extend our heartfelt thoughts to everyone affected by Hurricane Milton,” said Scott Schaeffer, Chairman and CEO of IRT. “We are especially thankful to our on-site teams for their dedication in preparing our communities for this storm and responding quickly to ensure our residents remained safe.” Abo.
Negative
Zacks Investment Research
2 months ago
After Plunging -5.47% in 4 Weeks, Here's Why the Trend Might Reverse for Independence Realty Trust (IRT)
The heavy selling pressure might have exhausted for Independence Realty Trust (IRT) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
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