Essential Planning LLC. purchased a new stake in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,110 shares of the real estate investment trust's stock, valued at approximately $264,000.
A number of other large investors also recently made changes to their positions in IRT. Global Retirement Partners LLC raised its stake in Independence Realty Trust by 66.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust's stock worth $26,000 after buying an additional 521 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Independence Realty Trust by 0.5% in 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 purchasing an additional 526 shares during the period. Amundi raised its stake 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 purchasing an additional 597 shares during the period. State of Alaska Department of Revenue grew its holdings in shares of Independence Realty Trust by 0.5% in the 4th quarter. State of Alaska Department of Revenue now owns 133,831 shares of the real estate investment trust's stock valued at $2,654,000 after acquiring an additional 643 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Independence Realty Trust by 33.9% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 88.25% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. JMP Securities restated a "market outperform" rating and issued a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday, February 11th. BMO Capital Markets upgraded Independence Realty Trust from an "underperform" rating to a "market perform" rating and lifted their price target for the stock from $19.00 to $21.00 in a report on Friday, November 15th. Barclays reduced their price target on 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. Finally, Jefferies Financial Group upgraded Independence Realty Trust from a "hold" rating to a "buy" rating and lifted their price target for the stock from $20.00 to $24.00 in a report on Monday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $21.71.
View Our Latest Stock Report on IRT
Independence Realty Trust Stock Down 0.1 %
Shares of NYSE:IRT opened at $20.56 on Friday. Independence Realty Trust, Inc. has a 12-month low of $15.23 and a 12-month high of $22.26. The stock has a market cap of $4.75 billion, a PE ratio of 114.19, a P/E/G ratio of 2.91 and a beta of 1.19. The business has a 50 day moving average of $19.91 and a 200-day moving average of $20.27.
Independence Realty Trust (NYSE:IRT - Get Free Report) last issued its quarterly earnings data 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%. Equities research analysts expect that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.
Independence Realty Trust Announces Dividend
The company also recently disclosed 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 3.11%. The ex-dividend date of this dividend is Friday, March 28th. Independence Realty Trust's dividend payout ratio is presently 355.56%.
About Independence Realty Trust
(
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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