Corebridge Financial Inc. lowered its position in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 365,087 shares of the real estate investment trust's stock after selling 19,824 shares during the quarter. Corebridge Financial Inc. owned about 0.16% of Independence Realty Trust worth $7,243,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in IRT. Global Retirement Partners LLC lifted its holdings in shares of Independence Realty Trust by 66.0% during the fourth 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 period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Independence Realty Trust by 0.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,984 shares of the real estate investment trust's stock valued at $2,050,000 after acquiring an additional 526 shares during the period. Amundi boosted its holdings in shares of Independence Realty Trust by 0.5% in the 4th quarter. Amundi now owns 122,544 shares of the real estate investment trust's stock valued at $2,304,000 after acquiring an additional 597 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Independence Realty Trust by 0.5% in the fourth quarter. State of Alaska Department of Revenue now owns 133,831 shares of the real estate investment trust's stock worth $2,654,000 after acquiring an additional 643 shares during the period. Finally, Blue Trust Inc. raised its holdings 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 worth $56,000 after purchasing an additional 692 shares during the last quarter. Hedge funds and other institutional investors own 88.25% of the company's stock.
Independence Realty Trust Price Performance
NYSE IRT traded up $0.08 on Wednesday, hitting $21.44. The company had a trading volume of 195,581 shares, compared to its average volume of 1,911,584. The company's fifty day moving average price is $20.44 and its 200-day moving average price is $20.33. The company has a market capitalization of $4.95 billion, a PE ratio of 119.14, a PEG ratio of 2.91 and a beta of 1.19. Independence Realty Trust, Inc. has a 12-month low of $15.24 and a 12-month 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 (EPS) 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, sell-side analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.
Independence Realty Trust Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, March 28th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, March 28th. Independence Realty Trust's dividend payout ratio is presently 355.56%.
Analyst Ratings Changes
Several equities research analysts have commented on IRT shares. Wells Fargo & Company started coverage on shares of Independence Realty Trust in a report on Wednesday, March 19th. They issued an "overweight" rating and a $24.00 price target on the stock. Barclays lowered their target price on Independence Realty Trust from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. Jefferies Financial Group upgraded Independence Realty Trust from a "hold" rating to a "buy" rating and lifted their price target for the company from $20.00 to $24.00 in a research report on Monday, March 10th. Finally, JMP Securities restated 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.
View Our Latest Report on Independence Realty Trust
Independence Realty Trust Company Profile
(
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.
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