Quantbot Technologies LP Has $2.80 Million Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Quantbot Technologies LP lifted its holdings in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 26.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,169 shares of the real estate investment trust's stock after buying an additional 29,128 shares during the quarter. Quantbot Technologies LP owned about 0.06% of Independence Realty Trust worth $2,801,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IRT. Global Retirement Partners LLC lifted its stake 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 valued at $26,000 after acquiring an additional 521 shares during the period. SRS Capital Advisors Inc. raised its holdings in Independence Realty Trust by 627.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 2,008 shares during the last quarter. Jones Financial Companies Lllp boosted 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 purchasing an additional 1,000 shares during the last quarter. Blue Trust Inc. grew its position in shares of Independence Realty Trust by 33.9% during the 4th quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust's stock worth $56,000 after buying an additional 692 shares during the period. Finally, Avior Wealth Management LLC raised its stake in shares of Independence Realty Trust by 437.8% during the third quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust's stock worth $62,000 after buying an additional 2,443 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IRT. Jefferies Financial Group raised shares of Independence Realty Trust from a "hold" rating to a "buy" rating and raised their price objective for the company from $20.00 to $24.00 in a research note on Monday, March 10th. JMP Securities reaffirmed a "market outperform" rating and set a $22.00 price objective on shares of Independence Realty Trust in a research note on Tuesday, February 11th. Wells Fargo & Company assumed coverage on Independence Realty Trust in a report on Wednesday, March 19th. They issued an "overweight" rating and a $24.00 price objective for the company. Finally, Barclays reduced their target price 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Independence Realty Trust currently has an average rating of "Moderate Buy" and an average target price of $22.00.

Independence Realty Trust Price Performance

Shares of Independence Realty Trust stock traded up $0.02 during trading hours on Thursday, hitting $20.98. The company's stock had a trading volume of 1,694,573 shares, compared to its average volume of 2,009,027. The company has a market capitalization of $4.84 billion, a PE ratio of 116.53, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19. The stock has a 50 day moving average of $20.27 and a 200 day moving average of $20.31. Independence Realty Trust, Inc. has a 12 month low of $15.25 and a 12 month high of $22.26.

Independence Realty Trust (NYSE:IRT - Get Free Report) last announced its earnings results 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 net margin of 6.15% and a return on equity of 1.11%. Equities analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Dividend Announcement

The business also recently announced 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 3.05%. The ex-dividend date of this dividend is Friday, March 28th. Independence Realty Trust's payout ratio is presently 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.