Barclays PLC boosted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 34.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 537,764 shares of the real estate investment trust's stock after acquiring an additional 137,388 shares during the quarter. Barclays PLC owned approximately 0.24% of Independence Realty Trust worth $10,670,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Sterling Capital Management LLC raised its holdings in shares of Independence Realty Trust by 833.6% during the 4th quarter. Sterling Capital Management LLC now owns 7,254 shares of the real estate investment trust's stock valued at $144,000 after purchasing an additional 6,477 shares in the last quarter. Bank of Montreal Can increased its position in Independence Realty Trust by 10.3% during the fourth quarter. Bank of Montreal Can now owns 38,439 shares of the real estate investment trust's stock worth $763,000 after buying an additional 3,604 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Independence Realty Trust by 24.8% during the fourth quarter. Russell Investments Group Ltd. now owns 1,162,523 shares of the real estate investment trust's stock valued at $23,064,000 after buying an additional 231,365 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Independence Realty Trust by 2.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 252,218 shares of the real estate investment trust's stock worth $5,004,000 after buying an additional 5,223 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Independence Realty Trust by 9.1% during the 4th quarter. Wells Fargo & Company MN now owns 278,566 shares of the real estate investment trust's stock worth $5,527,000 after acquiring an additional 23,186 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.
Independence Realty Trust Stock Performance
Shares of IRT opened at $19.42 on Wednesday. The company has a 50-day simple moving average of $20.27 and a 200-day simple moving average of $20.13. Independence Realty Trust, Inc. has a 52 week low of $15.27 and a 52 week high of $22.26. The firm has a market capitalization of $4.49 billion, a P/E ratio of 107.89, a P/E/G ratio of 2.91 and a beta of 0.98.
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 return on equity of 1.11% and a net margin of 6.15%. As a group, equities analysts forecast that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.
Independence Realty Trust Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Friday, March 28th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a yield of 3.30%. Independence Realty Trust's dividend payout ratio is currently 355.56%.
Analyst Ratings Changes
A number of research analysts recently weighed in on IRT shares. Wells Fargo & Company assumed coverage on Independence Realty Trust in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $24.00 price objective on the stock. Jefferies Financial Group upgraded shares of Independence Realty Trust from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $20.00 to $24.00 in a research note on Monday, March 10th. UBS Group initiated coverage on shares of Independence Realty Trust in a research note on Monday, April 7th. They issued a "buy" rating and a $24.00 target price on the stock. Barclays boosted their target price on shares of Independence Realty Trust from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $22.00 price target on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.33.
Get Our Latest Analysis on IRT
Insider Buying and Selling at Independence Realty Trust
In other Independence Realty Trust news, CEO Scott Schaeffer sold 10,000 shares of Independence Realty Trust stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $21.21, for a total transaction of $212,100.00. Following the sale, the chief executive officer now directly owns 873,365 shares of the company's stock, valued at approximately $18,524,071.65. The trade was a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.58% of the company's stock.
About Independence Realty Trust
(
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
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