Swiss National Bank Grows Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Swiss National Bank raised its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 454,400 shares of the real estate investment trust's stock after acquiring an additional 15,000 shares during the period. Swiss National Bank owned approximately 0.20% of Independence Realty Trust worth $9,015,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in IRT. Natixis Advisors LLC raised its stake in shares of Independence Realty Trust by 17.1% during the third quarter. Natixis Advisors LLC now owns 94,845 shares of the real estate investment trust's stock worth $1,945,000 after purchasing an additional 13,856 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Independence Realty Trust during the 3rd quarter worth $189,000. Pathstone Holdings LLC grew its stake in shares of Independence Realty Trust by 140.5% during the 3rd quarter. Pathstone Holdings LLC now owns 101,272 shares of the real estate investment trust's stock worth $2,076,000 after purchasing an additional 59,157 shares during the period. Avior Wealth Management LLC increased its holdings in shares of Independence Realty Trust by 437.8% in the 3rd quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust's stock valued at $62,000 after purchasing an additional 2,443 shares in the last quarter. Finally, Commerce Bank acquired a new stake in shares of Independence Realty Trust in the third quarter valued at about $460,000. 88.25% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Independence Realty Trust Price Performance

NYSE:IRT traded down $0.04 during mid-day trading on Wednesday, reaching $20.95. The company's stock had a trading volume of 1,092,098 shares, compared to its average volume of 1,933,003. The stock has a market cap of $4.84 billion, a P/E ratio of 116.36, a P/E/G ratio of 2.91 and a beta of 1.19. Independence Realty Trust, Inc. has a twelve month low of $15.24 and a twelve month high of $22.26. The company's fifty day simple moving average is $20.23 and its two-hundred day simple moving average is $20.30.

Independence Realty Trust (NYSE:IRT - Get Free Report) last announced 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%. Sell-side analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, March 28th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, March 28th. This represents a $0.64 annualized dividend and a yield of 3.06%. Independence Realty Trust's dividend payout ratio is currently 355.56%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on IRT shares. Barclays lowered their price objective on shares of Independence Realty Trust from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. JMP Securities restated a "market outperform" rating and set a $22.00 price objective on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Wells Fargo & Company assumed coverage on Independence Realty Trust in a report on Wednesday, March 19th. They set an "overweight" rating and a $24.00 target price on the stock. Finally, Jefferies Financial Group upgraded Independence Realty Trust from a "hold" rating to a "buy" rating and upped their price objective for the company from $20.00 to $24.00 in a research report on Monday, March 10th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $22.00.

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.