Marshall Wace LLP Has $13.34 Million Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Marshall Wace LLP boosted its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 38.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 672,188 shares of the real estate investment trust's stock after acquiring an additional 184,931 shares during the quarter. Marshall Wace LLP owned 0.30% of Independence Realty Trust worth $13,336,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Global Retirement Partners LLC lifted its holdings in Independence Realty Trust by 66.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 521 shares during the last quarter. Amundi raised its stake in shares of Independence Realty Trust by 0.5% in the fourth quarter. Amundi now owns 122,544 shares of the real estate investment trust's stock valued at $2,304,000 after acquiring an additional 597 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Independence Realty Trust by 0.5% in the 4th quarter. State of Alaska Department of Revenue now owns 133,831 shares of the real estate investment trust's stock worth $2,654,000 after acquiring an additional 643 shares in the last quarter. Blue Trust Inc. grew its position in 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 acquiring an additional 692 shares during the last quarter. Finally, Ironsides Asset Advisors LLC increased its holdings in Independence Realty Trust by 7.0% during the 4th quarter. Ironsides Asset Advisors LLC now owns 11,070 shares of the real estate investment trust's stock valued at $220,000 after purchasing an additional 725 shares in the last quarter. 88.25% of the stock is owned by institutional investors.

Independence Realty Trust Price Performance

IRT opened at $19.09 on Monday. Independence Realty Trust, Inc. has a fifty-two week low of $15.27 and a fifty-two week high of $22.26. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 106.07, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98. The firm has a 50 day simple moving average of $20.31 and a 200 day simple moving average of $20.14.

Independence Realty Trust (NYSE:IRT - Get Free Report) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS 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%. As a group, analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Friday, March 28th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Friday, March 28th. Independence Realty Trust's payout ratio is 355.56%.

Wall Street Analysts Forecast Growth

IRT has been the topic of a number of recent analyst reports. Wells Fargo & Company began coverage on Independence Realty Trust in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $24.00 price objective on the stock. Barclays upped their price target on shares of Independence Realty Trust from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. UBS Group assumed coverage on shares of Independence Realty Trust in a research report on Monday, April 7th. They issued a "buy" rating and a $24.00 price objective for the company. JMP Securities reiterated 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. Finally, Jefferies Financial Group raised shares of Independence Realty Trust from a "hold" rating to a "buy" rating and raised their price target for the company from $20.00 to $24.00 in a report on Monday, March 10th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Independence Realty Trust has an average rating of "Moderate Buy" and a consensus target price of $22.33.

Insider Activity at Independence Realty Trust

In other news, CEO Scott Schaeffer sold 10,000 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.58% of the company's stock.

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.

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