Cbre Investment Management Listed Real Assets LLC Purchases 56,923 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Cbre Investment Management Listed Real Assets LLC lifted its position in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,015,292 shares of the real estate investment trust's stock after purchasing an additional 56,923 shares during the period. Cbre Investment Management Listed Real Assets LLC owned 0.45% of Independence Realty Trust worth $20,143,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in IRT. Private Advisor Group LLC bought a new position in shares of Independence Realty Trust during the third quarter valued at about $257,000. abrdn plc lifted its position in shares of Independence Realty Trust by 10.0% during the third quarter. abrdn plc now owns 45,170 shares of the real estate investment trust's stock valued at $926,000 after purchasing an additional 4,102 shares in the last quarter. US Bancorp DE raised its position in Independence Realty Trust by 24.5% in the third quarter. US Bancorp DE now owns 25,318 shares of the real estate investment trust's stock worth $519,000 after acquiring an additional 4,989 shares during the period. Van ECK Associates Corp raised its position in Independence Realty Trust by 12.3% in the third quarter. Van ECK Associates Corp now owns 38,839 shares of the real estate investment trust's stock worth $773,000 after acquiring an additional 4,263 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in Independence Realty Trust by 1.6% in the third quarter. Asset Management One Co. Ltd. now owns 344,688 shares of the real estate investment trust's stock worth $7,066,000 after acquiring an additional 5,403 shares during the period. 88.25% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Several analysts have commented on IRT shares. BMO Capital Markets raised 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. JMP Securities reaffirmed a "market outperform" rating and issued a $22.00 price objective on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Finally, Barclays lowered their price objective on shares of Independence Realty Trust from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Independence Realty Trust currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.33.

Independence Realty Trust Stock Up 0.2 %

NYSE:IRT traded up $0.05 during mid-day trading on Friday, hitting $20.99. 1,768,085 shares of the stock traded hands, compared to its average volume of 2,007,175. The business's 50-day moving average price is $19.84 and its 200 day moving average price is $20.25. The company has a market cap of $4.85 billion, a PE ratio of 116.62, a price-to-earnings-growth ratio of 2.91 and a beta of 1.18. Independence Realty Trust, Inc. has a 12-month low of $15.23 and a 12-month high of $22.26.

Independence Realty Trust (NYSE:IRT - Get Free Report) last issued its quarterly earnings data 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 net margin of 6.15% and a return on equity of 1.11%. Analysts anticipate that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were issued a $0.16 dividend. 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 3.05%. Independence Realty Trust's payout ratio is 355.56%.

About Independence Realty Trust

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.