Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $2.44 Million Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 38.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 122,716 shares of the real estate investment trust's stock after purchasing an additional 33,946 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.05% of Independence Realty Trust worth $2,435,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Xponance Inc. boosted its holdings in shares of Independence Realty Trust by 4.7% in the 4th quarter. Xponance Inc. now owns 31,954 shares of the real estate investment trust's stock valued at $634,000 after buying an additional 1,424 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Independence Realty Trust by 97.2% during the fourth quarter. Intech Investment Management LLC now owns 157,186 shares of the real estate investment trust's stock worth $3,119,000 after purchasing an additional 77,469 shares during the period. Signaturefd LLC boosted its stake in Independence Realty Trust by 6.6% in the 4th quarter. Signaturefd LLC now owns 19,114 shares of the real estate investment trust's stock valued at $379,000 after purchasing an additional 1,189 shares during the period. Cibc World Markets Corp acquired a new position in Independence Realty Trust in the 4th quarter valued at $420,000. Finally, Ironsides Asset Advisors LLC increased its position in Independence Realty Trust by 7.0% during the 4th quarter. Ironsides Asset Advisors LLC now owns 11,070 shares of the real estate investment trust's stock worth $220,000 after buying an additional 725 shares during the period. Institutional investors own 88.25% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts recently commented on IRT shares. Wells Fargo & Company started coverage on shares of Independence Realty Trust in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $24.00 price target on the stock. Barclays reduced their target price on Independence Realty Trust from $21.00 to $20.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Jefferies Financial Group upgraded Independence Realty Trust from a "hold" rating to a "buy" rating and upped their price objective for the stock from $20.00 to $24.00 in a research report on Monday, March 10th. Finally, 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, February 11th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $22.00.

Independence Realty Trust Stock Down 0.6 %

IRT traded down $0.14 during midday trading on Friday, hitting $20.85. 1,810,512 shares of the company were exchanged, compared to its average volume of 2,119,372. Independence Realty Trust, Inc. has a 1-year low of $15.25 and a 1-year high of $22.26. The firm's 50 day moving average price is $20.31 and its 200-day moving average price is $20.31. The firm has a market capitalization of $4.81 billion, a P/E ratio of 115.81, a P/E/G ratio of 2.91 and a beta of 1.19.

Independence Realty Trust (NYSE:IRT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, beating 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 predict 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 disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, March 28th will be paid a $0.16 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.64 annualized dividend and a dividend yield of 3.07%. Independence Realty Trust's dividend payout ratio is currently 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.