Strategic Financial Concepts LLC Purchases New Shares in Independence Realty Trust, Inc. (NYSE:IRT)

Strategic Financial Concepts LLC purchased a new stake in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 19,480 shares of the real estate investment trust's stock, valued at approximately $386,000.

Several other institutional investors and hedge funds have also recently modified their holdings of IRT. Creative Planning raised its holdings in shares of Independence Realty Trust by 2.6% in the 3rd quarter. Creative Planning now owns 101,549 shares of the real estate investment trust's stock valued at $2,082,000 after acquiring an additional 2,587 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of 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 valued at $38,000 after buying an additional 1,527 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Independence Realty Trust during the 3rd quarter valued at about $257,000. International Assets Investment Management LLC raised its holdings in shares of Independence Realty Trust by 1,596.8% during the 3rd quarter. International Assets Investment Management LLC now owns 193,008 shares of the real estate investment trust's stock valued at $39,570,000 after buying an additional 181,633 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Independence Realty Trust by 259.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,297 shares of the real estate investment trust's stock valued at $477,000 after buying an additional 16,814 shares in the last quarter. Hedge funds and other institutional investors own 88.25% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on IRT shares. Barclays decreased their price objective on Independence Realty Trust from $21.00 to $20.00 and set an "equal weight" rating on the stock in a report on Wednesday. JMP Securities reissued a "market outperform" rating and set a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday, February 11th. Finally, BMO Capital Markets raised Independence Realty Trust from an "underperform" rating to a "market perform" rating and raised their price objective for the company from $19.00 to $21.00 in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Independence Realty Trust currently has an average rating of "Moderate Buy" and an average target price of $21.33.

Independence Realty Trust Price Performance

Independence Realty Trust stock traded down $0.31 during trading hours on Friday, reaching $20.44. The company had a trading volume of 2,705,438 shares, compared to its average volume of 1,818,042. The company has a 50-day moving average price of $19.70 and a 200 day moving average price of $20.13. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 113.56, a P/E/G ratio of 2.89 and a beta of 1.21. Independence Realty Trust, Inc. has a 12-month low of $14.35 and a 12-month high of $22.26.

Independence Realty Trust (NYSE:IRT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts' consensus estimates 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, research analysts expect that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were given a $0.16 dividend. 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 is currently 355.56%.

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.