Intech Investment Management LLC boosted its stake in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 97.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,186 shares of the real estate investment trust's stock after purchasing an additional 77,469 shares during the period. Intech Investment Management LLC owned approximately 0.07% of Independence Realty Trust worth $3,119,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of IRT. Atria Investments Inc lifted its position in Independence Realty Trust by 28.0% during the 3rd quarter. Atria Investments Inc now owns 33,731 shares of the real estate investment trust's stock worth $691,000 after acquiring an additional 7,378 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Independence Realty Trust by 17.1% during the third quarter. Natixis Advisors LLC now owns 94,845 shares of the real estate investment trust's stock valued at $1,945,000 after purchasing an additional 13,856 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Independence Realty Trust by 3.4% during the third quarter. Thrivent Financial for Lutherans now owns 745,930 shares of the real estate investment trust's stock worth $15,291,000 after purchasing an additional 24,639 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Independence Realty Trust in the third quarter valued at $189,000. Finally, Pathstone Holdings LLC grew its holdings in Independence Realty Trust by 140.5% during the 3rd quarter. Pathstone Holdings LLC now owns 101,272 shares of the real estate investment trust's stock valued at $2,076,000 after purchasing an additional 59,157 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company's stock.
Independence Realty Trust Stock Performance
Shares of NYSE:IRT traded up $0.27 during trading on Monday, reaching $21.00. The company had a trading volume of 1,209,723 shares, compared to its average volume of 2,011,552. Independence Realty Trust, Inc. has a twelve month low of $15.25 and a twelve month high of $22.26. The firm has a market capitalization of $4.85 billion, a PE ratio of 116.69, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19. The firm's fifty day moving average is $20.14 and its 200 day moving average is $20.29.
Independence Realty Trust (NYSE:IRT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating 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%. Equities 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 disclosed 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. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.64 annualized dividend and a dividend yield of 3.05%. Independence Realty Trust's dividend payout ratio (DPR) is 355.56%.
Analyst Ratings Changes
A number of research firms have commented on IRT. Jefferies Financial Group upgraded shares of Independence Realty Trust from a "hold" rating to a "buy" rating and increased their price objective for the company from $20.00 to $24.00 in a research note 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 report on Wednesday, March 19th. They issued an "overweight" rating and a $24.00 target price for the company. Finally, Barclays reduced their target price 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 analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Independence Realty Trust has an average rating of "Moderate Buy" and an average price target of $22.00.
Read Our Latest Stock Report on IRT
Independence Realty Trust Company Profile
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Free Report)
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.
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