Independence Realty Trust, Inc. (NYSE:IRT) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 47.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 147,182 shares of the real estate investment trust's stock after purchasing an additional 47,198 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Independence Realty Trust worth $2,920,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC grew its holdings in 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 acquiring an additional 521 shares during the period. Assetmark Inc. acquired a new stake in shares of Independence Realty Trust during the 3rd quarter worth approximately $41,000. SRS Capital Advisors Inc. increased its holdings in shares of 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 valued at $46,000 after purchasing an additional 2,008 shares in the last quarter. Jones Financial Companies Lllp lifted 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 period. Finally, Blue Trust Inc. boosted 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 worth $56,000 after buying an additional 692 shares in the last quarter. Hedge funds and other institutional investors own 88.25% of the company's stock.

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Independence Realty Trust Trading Up 0.6 %

IRT stock traded up $0.13 during mid-day trading on Wednesday, reaching $20.94. The company's stock had a trading volume of 1,821,709 shares, compared to its average volume of 1,908,596. The company's 50 day moving average is $20.01 and its two-hundred day moving average is $20.28. Independence Realty Trust, Inc. has a fifty-two week low of $15.23 and a fifty-two week high of $22.26. The stock has a market cap of $4.83 billion, a PE ratio of 116.31, a P/E/G ratio of 2.91 and a beta of 1.18.

Independence Realty Trust (NYSE:IRT - Get Free Report) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating 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%. On average, analysts forecast 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. Shareholders of record on Friday, March 28th will be given a $0.16 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a yield of 3.06%. Independence Realty Trust's dividend payout ratio is currently 355.56%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Independence Realty Trust from a "hold" rating to a "buy" rating and upped their price objective for the stock from $20.00 to $24.00 in a research report on Monday, March 10th. JMP Securities reissued a "market outperform" rating and issued a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday, February 11th. Wells Fargo & Company started coverage on Independence Realty Trust in a research note on Wednesday. They set an "overweight" rating and a $24.00 target price for the company. Finally, Barclays cut their price target on shares of 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. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.