Cibc World Markets Corp Purchases Shares of 21,151 Independence Realty Trust, Inc. (NYSE:IRT)

Cibc World Markets Corp bought a new position in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 21,151 shares of the real estate investment trust's stock, valued at approximately $420,000.

Other large investors also recently modified their holdings of the company. Global Retirement Partners LLC raised its position in Independence Realty Trust by 66.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 521 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in shares of Independence Realty Trust by 627.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust's stock valued at $46,000 after buying an additional 2,008 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Independence Realty Trust by 67.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 1,000 shares during the period. Blue Trust Inc. lifted its stake in shares of Independence Realty Trust by 33.9% during the fourth quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust's stock valued at $56,000 after acquiring an additional 692 shares during the period. Finally, Avior Wealth Management LLC increased its position in Independence Realty Trust by 437.8% in the third 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 during the period. 88.25% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

IRT has been the topic of a number of recent research reports. Jefferies Financial Group raised shares of Independence Realty Trust from a "hold" rating to a "buy" rating and raised their price objective for the company from $20.00 to $24.00 in a research note on Monday, March 10th. Wells Fargo & Company began coverage on Independence Realty Trust in a research report on Wednesday, March 19th. They set an "overweight" rating and a $24.00 target price for the company. JMP Securities reiterated 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. Finally, Barclays decreased their price objective on shares of Independence Realty Trust from $21.00 to $20.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Independence Realty Trust currently has a consensus rating of "Moderate Buy" and an average price target of $22.00.

Independence Realty Trust Stock Performance

Independence Realty Trust stock traded up $0.02 during midday trading on Thursday, reaching $20.98. The stock had a trading volume of 1,694,573 shares, compared to its average volume of 2,009,027. Independence Realty Trust, Inc. has a 1-year low of $15.25 and a 1-year high of $22.26. The firm's fifty day simple moving average is $20.27 and its 200-day simple moving average is $20.31. The stock has a market capitalization of $4.84 billion, a P/E ratio of 116.53, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19.

Independence Realty Trust (NYSE:IRT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.24. Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.11%. On average, sell-side 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 business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Friday, March 28th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Friday, March 28th. Independence Realty Trust's dividend payout ratio is currently 355.56%.

Independence Realty Trust Profile

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.