Invesco Ltd. Has $10.11 Million Position in Independence Realty Trust, Inc. (NYSE:IRT)

Invesco Ltd. cut its holdings in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 12.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 509,441 shares of the real estate investment trust's stock after selling 70,358 shares during the quarter. Invesco Ltd. owned about 0.23% of Independence Realty Trust worth $10,107,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Independence Realty Trust by 17.9% during the fourth quarter. Wellington Management Group LLP now owns 13,398,947 shares of the real estate investment trust's stock worth $265,835,000 after acquiring an additional 2,037,968 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Independence Realty Trust by 4.8% in the 4th quarter. Jennison Associates LLC now owns 6,139,652 shares of the real estate investment trust's stock valued at $121,811,000 after purchasing an additional 278,959 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Independence Realty Trust by 8.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,380,250 shares of the real estate investment trust's stock valued at $86,904,000 after purchasing an additional 352,307 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of 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 buying an additional 60,919 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Independence Realty Trust by 0.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,506,902 shares of the real estate investment trust's stock valued at $49,737,000 after buying an additional 11,784 shares during the last quarter. 88.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IRT shares. Jefferies Financial Group raised Independence Realty Trust from a "hold" rating to a "buy" rating and upped their price target for the stock from $20.00 to $24.00 in a research report on Monday, March 10th. Barclays raised their price objective on Independence Realty Trust from $20.00 to $21.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. UBS Group assumed coverage on Independence Realty Trust in a report on Monday, April 7th. They set a "buy" rating and a $24.00 target price on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $22.00 price target on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Finally, 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. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Independence Realty Trust has an average rating of "Moderate Buy" and an average target price of $22.33.

Independence Realty Trust Stock Performance

Shares of IRT opened at $19.42 on Wednesday. The firm's 50-day simple moving average is $20.27 and its 200 day simple moving average is $20.13. The firm has a market cap of $4.49 billion, a P/E ratio of 107.89, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98. Independence Realty Trust, Inc. has a 52 week low of $15.27 and a 52 week high of $22.26.

Independence Realty Trust (NYSE:IRT - Get Free Report) last released 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%. As a group, equities analysts forecast that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Friday, March 28th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Friday, March 28th. Independence Realty Trust's dividend payout ratio is currently 355.56%.

Insiders Place Their Bets

In related news, CEO Scott Schaeffer sold 10,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $21.21, for a total value of $212,100.00. Following the completion of the transaction, the chief executive officer now owns 873,365 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.58% of the company's stock.

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.

Want to see what other hedge funds are holding IRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Independence Realty Trust, Inc. (NYSE:IRT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.