abrdn plc raised its stake in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 60.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72,547 shares of the real estate investment trust's stock after buying an additional 27,377 shares during the period. abrdn plc's holdings in Independence Realty Trust were worth $1,436,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of IRT. V Square Quantitative Management LLC bought a new position in shares of Independence Realty Trust in the third quarter valued at $28,000. Blue Trust Inc. grew its position in Independence Realty Trust by 295.9% during the 3rd quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust's stock worth $38,000 after purchasing an additional 1,527 shares in the last quarter. Assetmark Inc. purchased a new position in Independence Realty Trust during the 3rd quarter worth approximately $41,000. Avior Wealth Management LLC grew its position in Independence Realty Trust by 437.8% during the 3rd quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust's stock worth $62,000 after purchasing an additional 2,443 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in Independence Realty Trust during the 3rd quarter worth approximately $64,000. Institutional investors own 88.25% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on IRT shares. Barclays lowered their price objective on shares of Independence Realty Trust from $23.00 to $21.00 and set an "equal weight" rating on the stock in a research report on Friday, January 24th. JMP Securities reiterated a "market outperform" rating and set a $22.00 price objective on shares of Independence Realty Trust in a research report on Tuesday. Finally, BMO Capital Markets upgraded shares of Independence Realty Trust from an "underperform" rating to a "market perform" rating and lifted their price objective for the stock from $19.00 to $21.00 in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $20.86.
Check Out Our Latest Report on IRT
Independence Realty Trust Stock Up 0.0 %
Shares of Independence Realty Trust stock traded up $0.01 on Friday, hitting $20.53. 1,626,088 shares of the company traded hands, compared to its average volume of 1,588,336. The company has a 50-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 company has a market cap of $4.62 billion, a PE ratio of 17.43, a PEG ratio of 2.77 and a beta of 1.21.
Independence Realty Trust (NYSE:IRT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, beating the consensus estimate of $0.08 by $0.24. Independence Realty Trust had a negative net margin of 0.03% and a negative return on equity of 0.01%. Equities research analysts anticipate that Independence Realty Trust, Inc. will post 1.15 EPS for the current year.
Independence Realty Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Tuesday, December 31st.
Independence Realty Trust Company Profile
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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.
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