Nomura Asset Management Co. Ltd. Raises Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Nomura Asset Management Co. Ltd. lifted its stake in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 5.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,131 shares of the real estate investment trust's stock after purchasing an additional 16,331 shares during the period. Nomura Asset Management Co. Ltd. owned 0.13% of Independence Realty Trust worth $5,915,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of IRT. Global Retirement Partners LLC increased its position in Independence Realty Trust by 66.0% in the fourth 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 in the last quarter. SRS Capital Advisors Inc. increased its holdings in Independence Realty Trust by 627.5% in the 4th 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 in the last quarter. Jones Financial Companies Lllp raised its stake in Independence Realty Trust by 67.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust's stock worth $49,000 after acquiring an additional 1,000 shares during the period. Blue Trust Inc. lifted its holdings in 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 valued at $56,000 after purchasing an additional 692 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in shares of Independence Realty Trust in the third quarter worth approximately $64,000. 88.25% of the stock is owned by institutional investors.

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Insider Activity at Independence Realty Trust

In other Independence Realty Trust news, CEO Scott Schaeffer sold 10,000 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $21.21, for a total transaction of $212,100.00. Following the transaction, the chief executive officer now owns 873,365 shares in the company, valued at $18,524,071.65. The trade was a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.58% of the stock is owned by insiders.

Independence Realty Trust Trading Down 7.5 %

Shares of NYSE:IRT traded down $1.55 during mid-day trading on Friday, reaching $19.00. The stock had a trading volume of 3,371,356 shares, compared to its average volume of 2,139,087. The business's 50 day moving average price is $20.54 and its 200 day moving average price is $20.32. Independence Realty Trust, Inc. has a 1 year low of $15.27 and a 1 year high of $22.26. The company has a market cap of $4.39 billion, a P/E ratio of 105.56, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98.

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 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%. Analysts predict 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 announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, March 28th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Friday, March 28th. Independence Realty Trust's dividend payout ratio is 355.56%.

Analyst Ratings Changes

Several brokerages have recently commented on IRT. Wells Fargo & Company began coverage on shares of Independence Realty Trust in a research report on Wednesday, March 19th. They set an "overweight" rating and a $24.00 price objective on the stock. Barclays decreased their price target on Independence Realty Trust from $21.00 to $20.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Jefferies Financial Group upgraded Independence Realty Trust from a "hold" rating to a "buy" rating and increased their target price for the stock from $20.00 to $24.00 in a research report on Monday, March 10th. Finally, JMP Securities reissued a "market outperform" rating and issued a $22.00 price target on shares of Independence Realty Trust in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.