Geode Capital Management LLC Has $115.66 Million Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Geode Capital Management LLC reduced its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,828,531 shares of the real estate investment trust's stock after selling 29,412 shares during the period. Geode Capital Management LLC owned 2.59% of Independence Realty Trust worth $115,662,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC lifted its holdings in Independence Realty Trust by 66.0% in the 4th 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 last quarter. SRS Capital Advisors Inc. increased its position in Independence Realty Trust by 627.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust's stock worth $46,000 after acquiring an additional 2,008 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Independence Realty Trust by 67.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 1,000 shares in the last quarter. Blue Trust Inc. raised its position in Independence Realty Trust by 33.9% in 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 in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in Independence Realty Trust during the third quarter worth about $64,000. Institutional investors and hedge funds own 88.25% of the company's stock.

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Insider Activity

In other Independence Realty Trust news, CEO Scott Schaeffer sold 10,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $21.21, for a total value of $212,100.00. Following the transaction, the chief executive officer now directly owns 873,365 shares of the company's stock, valued at $18,524,071.65. This trade represents a 1.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on IRT shares. UBS Group began coverage on Independence Realty Trust in a report on Monday, April 7th. They issued a "buy" rating and a $24.00 target price for the company. Wells Fargo & Company started 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 on the stock. Jefferies Financial Group raised Independence Realty Trust from a "hold" rating to a "buy" rating and upped their price target for the company from $20.00 to $24.00 in a research note on Monday, March 10th. Barclays boosted their price target on shares of Independence Realty Trust from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Friday. 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 analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Independence Realty Trust has a consensus rating of "Moderate Buy" and a consensus target price of $22.33.

Independence Realty Trust Stock Up 1.3 %

Shares of NYSE:IRT traded up $0.24 during midday trading on Monday, reaching $18.46. The company had a trading volume of 87,855 shares, compared to its average volume of 2,125,698. The business's 50 day moving average price is $20.41 and its 200 day moving average price is $20.19. The stock has a market cap of $4.27 billion, a PE ratio of 102.56, a P/E/G ratio of 2.91 and a beta of 0.98. Independence Realty Trust, Inc. has a 1-year low of $15.27 and a 1-year 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 net margin of 6.15% and a return on equity of 1.11%. On average, research analysts expect that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders 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 yield of 3.47%. Independence Realty Trust's dividend payout ratio is 355.56%.

Independence Realty Trust 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.