Cookson Peirce & Co. Inc. Increases Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Cookson Peirce & Co. Inc. boosted its holdings in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 67.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,599 shares of the real estate investment trust's stock after buying an additional 11,968 shares during the quarter. Cookson Peirce & Co. Inc.'s holdings in Independence Realty Trust were worth $587,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of IRT. Private Advisor Group LLC bought a new position in Independence Realty Trust in the third quarter valued at about $257,000. 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 valued at $519,000 after purchasing an additional 4,989 shares during the last quarter. 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 valued at $773,000 after purchasing an additional 4,263 shares during the last quarter. 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 valued at $7,066,000 after purchasing an additional 5,403 shares during the last quarter. Finally, Ironsides Asset Advisors LLC bought a new position in Independence Realty Trust in the third quarter valued at about $212,000. 88.25% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several research firms have commented on IRT. BMO Capital Markets upgraded Independence Realty Trust from an "underperform" rating to a "market perform" rating and increased their target price for the company from $19.00 to $21.00 in a research report on Friday, November 15th. Barclays dropped their target price on Independence Realty Trust from $21.00 to $20.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 19th. Finally, JMP Securities restated 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $21.33.

Independence Realty Trust Stock Performance

Shares of IRT traded up $0.05 during mid-day trading on Friday, reaching $20.99. 1,768,085 shares of the company were exchanged, compared to its average volume of 2,004,569. The stock has a market capitalization of $4.85 billion, a PE ratio of 116.62, a PEG ratio of 2.91 and a beta of 1.19. The business has a 50 day simple moving average of $19.84 and a two-hundred day simple moving average of $20.25. Independence Realty Trust, Inc. has a 52 week low of $15.23 and a 52 week high of $22.26.

Independence Realty Trust (NYSE:IRT - Get Free Report) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.24. Independence Realty Trust had a return on equity of 1.11% and a net margin of 6.15%. On average, analysts predict that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders 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 yield of 3.05%. Independence Realty Trust's payout ratio is currently 355.56%.

Independence Realty Trust Company 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.