Aew Capital Management L P Purchases 434,290 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Aew Capital Management L P boosted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 23.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,316,915 shares of the real estate investment trust's stock after acquiring an additional 434,290 shares during the period. Independence Realty Trust accounts for 2.2% of Aew Capital Management L P's portfolio, making the stock its 15th largest position. Aew Capital Management L P owned 1.03% of Independence Realty Trust worth $45,968,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IRT. Metis Global Partners LLC grew its position in shares of Independence Realty Trust by 11.4% during the 4th quarter. Metis Global Partners LLC now owns 25,769 shares of the real estate investment trust's stock worth $511,000 after buying an additional 2,631 shares during the period. Proficio Capital Partners LLC acquired a new stake in Independence Realty Trust in the fourth quarter worth $204,000. Global Retirement Partners LLC boosted its position 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 in the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of Independence Realty Trust in the 4th quarter valued at $564,000. Finally, Venturi Wealth Management LLC bought a new stake in shares of Independence Realty Trust in the 4th quarter valued at $70,000. Institutional investors own 88.25% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Barclays lowered 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. JMP Securities restated a "market outperform" rating and set a $22.00 target price on shares of Independence Realty Trust in a report on Tuesday, February 11th. Finally, BMO Capital Markets raised Independence Realty Trust from an "underperform" rating to a "market perform" rating and boosted their price target for the stock from $19.00 to $21.00 in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $21.33.

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Independence Realty Trust Stock Up 0.7 %

Shares of Independence Realty Trust stock traded up $0.16 on Wednesday, hitting $21.48. The stock had a trading volume of 1,989,356 shares, compared to its average volume of 2,010,074. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 119.31, a price-to-earnings-growth ratio of 2.91 and a beta of 1.18. The business's 50 day moving average is $19.78 and its two-hundred day moving average is $20.22. Independence Realty Trust, Inc. has a twelve month low of $15.23 and a twelve month high of $22.26.

Independence Realty Trust (NYSE:IRT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share 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%. As a group, equities analysts predict that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Tuesday, December 31st. Independence Realty Trust's dividend payout ratio is currently 355.56%.

About Independence Realty Trust

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.