Victory Capital Management Inc. Trims Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Victory Capital Management Inc. decreased its position in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 42.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,498 shares of the real estate investment trust's stock after selling 30,614 shares during the quarter. Victory Capital Management Inc.'s holdings in Independence Realty Trust were worth $823,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IRT. Wellington Management Group LLP grew its position in Independence Realty Trust by 24.4% in the 3rd quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust's stock worth $232,900,000 after purchasing an additional 2,225,371 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Independence Realty Trust by 4.8% in the fourth quarter. Jennison Associates LLC now owns 6,139,652 shares of the real estate investment trust's stock valued at $121,811,000 after acquiring an additional 278,959 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Independence Realty Trust by 0.9% in the third quarter. Geode Capital Management LLC now owns 5,857,943 shares of the real estate investment trust's stock valued at $120,108,000 after acquiring an additional 50,788 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Independence Realty Trust by 236.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,027,943 shares of the real estate investment trust's stock valued at $82,573,000 after acquiring an additional 2,829,247 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Independence Realty Trust by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,561,615 shares of the real estate investment trust's stock worth $70,662,000 after acquiring an additional 60,919 shares during the period. Hedge funds and other institutional investors own 88.25% of the company's stock.

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Independence Realty Trust Trading Up 1.3 %

Shares of IRT stock traded up $0.27 during trading on Monday, reaching $21.00. 1,209,723 shares of the company's stock traded hands, compared to its average volume of 2,011,552. The firm's 50-day moving average is $20.14 and its 200 day moving average is $20.29. The company has a market capitalization of $4.85 billion, a P/E ratio of 116.69, a PEG ratio of 2.91 and a beta of 1.19. Independence Realty Trust, Inc. has a 1 year low of $15.25 and a 1 year high of $22.26.

Independence Realty Trust (NYSE:IRT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 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%. As a group, sell-side 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 business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, March 28th will be issued a dividend of $0.16 per share. 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%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on IRT shares. JMP Securities reaffirmed 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. Wells Fargo & Company initiated coverage on shares of Independence Realty Trust in a report on Wednesday, March 19th. They set an "overweight" rating and a $24.00 price objective for the company. Jefferies Financial Group upgraded shares of Independence Realty Trust from a "hold" rating to a "buy" rating and boosted their target price for the company from $20.00 to $24.00 in a research note on Monday, March 10th. Finally, Barclays decreased 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 research note on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Independence Realty Trust presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.

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.