State of New Jersey Common Pension Fund D Lowers Position in Independence Realty Trust, Inc. (NYSE:IRT)

State of New Jersey Common Pension Fund D cut its holdings in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 312,419 shares of the real estate investment trust's stock after selling 14,776 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.14% of Independence Realty Trust worth $6,198,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in shares of Independence Realty Trust in the 3rd quarter valued at approximately $28,000. Blue Trust Inc. increased its position in Independence Realty Trust by 295.9% during the 3rd quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust's stock worth $38,000 after purchasing an additional 1,527 shares in the last quarter. Assetmark Inc. bought a new position in Independence Realty Trust in the 3rd quarter valued at approximately $41,000. Avior Wealth Management LLC boosted its position in Independence Realty Trust by 437.8% in the third quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust's stock valued at $62,000 after buying an additional 2,443 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of Independence Realty Trust during the third quarter worth $64,000. Institutional investors own 88.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. BMO Capital Markets upgraded Independence Realty Trust from an "underperform" rating to a "market perform" rating and increased their price target for the company from $19.00 to $21.00 in a research note on Friday, November 15th. JMP Securities reiterated a "market outperform" rating and issued a $22.00 target price on shares of Independence Realty Trust in a report on Tuesday, February 11th. Finally, Barclays lowered their price target on shares of Independence Realty Trust from $21.00 to $20.00 and set an "equal weight" rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.33.

Independence Realty Trust Trading Down 1.5 %

NYSE IRT traded down $0.31 during trading hours on Friday, hitting $20.44. 2,705,438 shares of the company's stock were exchanged, compared to its average volume of 1,818,042. Independence Realty Trust, Inc. has a 1-year low of $14.35 and a 1-year high of $22.26. The stock has a 50-day simple moving average of $19.70 and a 200 day simple moving average of $20.13. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 113.56, a PEG ratio of 2.89 and a beta of 1.21.

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 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%. On average, sell-side analysts anticipate that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.13%. Independence Realty Trust's dividend payout ratio (DPR) is presently 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.