Sei Investments Co. Increases Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Sei Investments Co. lifted its holdings in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 25.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 863,454 shares of the real estate investment trust's stock after buying an additional 174,429 shares during the quarter. Sei Investments Co. owned approximately 0.38% of Independence Realty Trust worth $17,131,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SMART Wealth LLC purchased a new stake in Independence Realty Trust in the third quarter worth $873,000. Barclays PLC grew its holdings in shares of Independence Realty Trust by 182.3% in the third quarter. Barclays PLC now owns 400,376 shares of the real estate investment trust's stock worth $8,208,000 after purchasing an additional 258,549 shares during the last quarter. Franklin Resources Inc. increased its stake in 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 period. JPMorgan Chase & Co. lifted its holdings in Independence Realty Trust by 38.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust's stock valued at $51,150,000 after buying an additional 686,630 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in 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 valued at $70,662,000 after buying an additional 60,919 shares during the period. 88.25% of the stock is owned by institutional investors.

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Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Jefferies Financial Group raised shares of Independence Realty Trust from a "hold" rating to a "buy" rating and raised their target price for the stock from $20.00 to $24.00 in a research report on Monday, March 10th. Wells Fargo & Company began coverage on Independence Realty Trust in a report on Wednesday, March 19th. They set an "overweight" rating and a $24.00 price objective on the stock. Barclays lowered their target price on Independence Realty Trust from $21.00 to $20.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. Finally, JMP Securities reissued 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. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.00.

Independence Realty Trust Trading Up 0.7 %

Shares of NYSE:IRT traded up $0.15 on Tuesday, reaching $21.38. The company had a trading volume of 1,484,150 shares, compared to its average volume of 2,124,271. The firm has a market capitalization of $4.94 billion, a PE ratio of 118.80, a PEG ratio of 2.91 and a beta of 1.19. Independence Realty Trust, Inc. has a 52-week low of $15.25 and a 52-week high of $22.26. The firm's 50 day simple moving average is $20.44 and its 200-day simple moving average is $20.33.

Independence Realty Trust (NYSE:IRT - Get Free Report) last posted its 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 research analysts predict 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 will be paid on Monday, April 21st. Stockholders of record on Friday, March 28th will be given a $0.16 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.99%. Independence Realty Trust's payout ratio is 355.56%.

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.