Lightrock Netherlands B.V. bought a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 143,649 shares of the real estate investment trust's stock, valued at approximately $2,864,000. Lightrock Netherlands B.V. owned about 0.06% of Independence Realty Trust at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP lifted its position in shares of Independence Realty Trust by 24.4% during the third quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust's stock worth $232,900,000 after purchasing an additional 2,225,371 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Independence Realty Trust by 4.8% during the fourth quarter. Jennison Associates LLC now owns 6,139,652 shares of the real estate investment trust's stock worth $121,811,000 after purchasing an additional 278,959 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Independence Realty Trust by 0.9% during the third quarter. Geode Capital Management LLC now owns 5,857,943 shares of the real estate investment trust's stock worth $120,108,000 after purchasing an additional 50,788 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Independence Realty Trust by 236.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,027,943 shares of the real estate investment trust's stock worth $82,573,000 after purchasing an additional 2,829,247 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Independence Realty Trust by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,500,696 shares of the real estate investment trust's stock worth $71,764,000 after purchasing an additional 137,464 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research firms recently weighed in on IRT. Barclays decreased their price objective on Independence Realty Trust from $23.00 to $21.00 and set an "equal weight" rating for the company in a report on Friday, January 24th. JMP Securities restated a "market outperform" rating and issued a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday. Finally, BMO Capital Markets upgraded Independence Realty Trust from an "underperform" rating to a "market perform" rating and lifted their price objective for the company from $19.00 to $21.00 in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Independence Realty Trust has an average rating of "Moderate Buy" and an average price target of $20.86.
Check Out Our Latest Report on Independence Realty Trust
Independence Realty Trust Stock Performance
IRT traded up $0.01 on Friday, hitting $20.53. The company had a trading volume of 1,626,088 shares, compared to its average volume of 1,588,336. The stock has a fifty day moving average price of $19.77 and a 200-day moving average price of $20.07. Independence Realty Trust, Inc. has a 12-month low of $14.35 and a 12-month high of $22.26. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 2.77 and a beta of 1.21.
Independence Realty Trust (NYSE:IRT - Get Free Report) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.24. Independence Realty Trust had a negative return on equity of 0.01% and a negative net margin of 0.03%. Analysts forecast that Independence Realty Trust, Inc. will post 1.15 EPS for the current fiscal year.
Independence Realty Trust Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.12%.
Independence Realty Trust Profile
(
Free Report)
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.
Further Reading
Before you consider Independence Realty Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Independence Realty Trust wasn't on the list.
While Independence Realty Trust currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
