Independence Realty Trust, Inc. (NYSE:IRT) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,380,250 shares of the real estate investment trust's stock after buying an additional 352,307 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.95% of Independence Realty Trust worth $86,904,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SMART Wealth LLC bought a new stake in shares of Independence Realty Trust during the 3rd quarter valued at $873,000. Barclays PLC boosted its stake in Independence Realty Trust by 182.3% during the third quarter. Barclays PLC now owns 400,376 shares of the real estate investment trust's stock valued at $8,208,000 after buying an additional 258,549 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Independence Realty Trust by 12.3% in the 3rd quarter. Franklin Resources Inc. now owns 256,234 shares of the real estate investment trust's stock worth $4,981,000 after buying an additional 28,059 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Independence Realty Trust by 38.0% in the third quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust's stock valued at $51,150,000 after acquiring an additional 686,630 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Independence Realty Trust by 1.7% in the 4th 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 last quarter. 88.25% of the stock is owned by hedge funds and other institutional investors.

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Independence Realty Trust Stock Down 3.8 %

NYSE IRT traded down $0.71 on Thursday, hitting $18.07. 464,733 shares of the stock were exchanged, compared to its average volume of 2,135,401. 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 50-day moving average price of $20.45 and a 200-day moving average price of $20.23. The company has a market cap of $4.17 billion, a PE ratio of 100.33, a PEG ratio of 2.91 and a beta of 0.98.

Independence Realty Trust (NYSE:IRT - Get Free Report) last released its quarterly earnings data 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 net margin of 6.15% and a return on equity of 1.11%. As a group, equities research analysts predict that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, March 28th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.54%. Independence Realty Trust's dividend payout ratio (DPR) is presently 355.56%.

Insider Activity

In other Independence Realty Trust news, CEO Scott Schaeffer sold 10,000 shares of Independence Realty Trust 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 sale, the chief executive officer now owns 873,365 shares in the company, valued at $18,524,071.65. The trade was a 1.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.58% of the company's stock.

Wall Street Analysts Forecast Growth

IRT has been the subject of several research reports. JMP Securities reaffirmed a "market outperform" rating and issued a $22.00 price target on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Barclays reduced their price target on Independence Realty Trust from $21.00 to $20.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 19th. UBS Group started coverage on shares of Independence Realty Trust in a research note on Monday. They issued a "buy" rating and a $24.00 price target on the stock. Wells Fargo & Company assumed coverage on shares of 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, Jefferies Financial Group upgraded shares of Independence Realty Trust from a "hold" rating to a "buy" rating and raised their price target for the stock from $20.00 to $24.00 in a report on Monday, March 10th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Independence Realty Trust currently has an average rating of "Moderate Buy" and an average price target of $22.22.

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.