Independence Realty Trust, Inc. (NYSE:IRT) Stake Raised by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its position in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 24.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,162,523 shares of the real estate investment trust's stock after acquiring an additional 231,365 shares during the period. Russell Investments Group Ltd. owned about 0.52% of Independence Realty Trust worth $23,064,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC lifted its position in shares of Independence Realty Trust by 66.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust's stock worth $26,000 after buying an additional 521 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in Independence Realty Trust by 627.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust's stock valued at $46,000 after purchasing an additional 2,008 shares during the period. Jones Financial Companies Lllp grew its stake in Independence Realty Trust by 67.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust's stock worth $49,000 after buying an additional 1,000 shares during the last quarter. Blue Trust Inc. grew its stake 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 buying an additional 692 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in Independence Realty Trust in the third quarter worth $64,000. 88.25% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other Independence Realty Trust news, CEO Scott Schaeffer sold 10,000 shares of the firm's stock in a transaction dated 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 directly owns 873,365 shares in the company, valued at $18,524,071.65. This trade represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.58% of the stock is currently owned by company insiders.

Independence Realty Trust Price Performance

Shares of IRT traded up $0.46 during mid-day trading on Monday, hitting $18.68. The company's stock had a trading volume of 547,092 shares, compared to its average volume of 1,987,761. Independence Realty Trust, Inc. has a fifty-two week low of $15.27 and a fifty-two week high of $22.26. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 103.78, a PEG ratio of 2.91 and a beta of 0.98. The firm has a 50-day moving average price of $20.41 and a 200 day moving average price of $20.19.

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 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 anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Friday, March 28th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.43%. Independence Realty Trust's dividend payout ratio (DPR) is 355.56%.

Analyst Ratings Changes

Several equities analysts have recently commented 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. JMP Securities restated a "market outperform" rating and issued a $22.00 price target on shares of Independence Realty Trust in a research note on Tuesday, February 11th. Wells Fargo & Company started coverage on Independence Realty Trust in a research report on Wednesday, March 19th. They set an "overweight" rating and a $24.00 price objective for the company. UBS Group began coverage on Independence Realty Trust in a research note on Monday, April 7th. They set a "buy" rating and a $24.00 target price on the stock. Finally, Jefferies Financial Group raised shares of Independence Realty Trust from a "hold" rating to a "buy" rating and upped their price objective for the stock 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.33.

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.