Easterly Investment Partners LLC Boosts Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Easterly Investment Partners LLC grew its holdings in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 13.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 613,867 shares of the real estate investment trust's stock after buying an additional 70,867 shares during the period. Easterly Investment Partners LLC owned approximately 0.27% of Independence Realty Trust worth $12,179,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in Independence Realty Trust by 24.4% in the third quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust's stock worth $232,900,000 after acquiring an additional 2,225,371 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Independence Realty Trust by 419.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,433,058 shares of the real estate investment trust's stock valued at $29,378,000 after purchasing an additional 1,157,052 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Independence Realty Trust by 38.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust's stock worth $51,150,000 after purchasing an additional 686,630 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Independence Realty Trust in the 4th quarter worth approximately $12,105,000. Finally, Aew Capital Management L P increased its position in shares of Independence Realty Trust by 23.1% during the 4th quarter. Aew Capital Management L P now owns 2,316,915 shares of the real estate investment trust's stock valued at $45,968,000 after purchasing an additional 434,290 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors.

Remove Ads

Independence Realty Trust Price Performance

Shares of NYSE:IRT traded up $0.41 during trading on Monday, reaching $21.27. 787,683 shares of the company were exchanged, compared to its average volume of 2,114,248. The business's fifty day simple moving average is $20.35 and its 200-day simple moving average is $20.32. Independence Realty Trust, Inc. has a 12-month low of $15.25 and a 12-month high of $22.26. The firm has a market capitalization of $4.91 billion, a PE ratio of 118.14, a P/E/G ratio of 2.91 and a beta of 1.19.

Independence Realty Trust (NYSE:IRT - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate 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 fiscal year.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Friday, March 28th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Friday, March 28th. Independence Realty Trust's dividend payout ratio (DPR) is presently 355.56%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Jefferies Financial Group upgraded Independence Realty Trust from a "hold" rating to a "buy" rating and raised their price target for the stock from $20.00 to $24.00 in a research report on Monday, March 10th. Wells Fargo & Company initiated coverage on shares of Independence Realty Trust in a research note on Wednesday, March 19th. They set an "overweight" rating and a $24.00 price target for the company. Barclays reduced 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. Finally, JMP Securities restated a "market outperform" rating and set a $22.00 target price 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 company's stock. According to MarketBeat, Independence Realty Trust currently has an average rating of "Moderate Buy" and a consensus target price of $22.00.

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.