Wellington Management Group LLP Raises Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Wellington Management Group LLP raised its position in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 17.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,398,947 shares of the real estate investment trust's stock after buying an additional 2,037,968 shares during the quarter. Wellington Management Group LLP owned about 5.80% of Independence Realty Trust worth $265,835,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Independence Realty Trust by 758.8% in the third quarter. FMR LLC now owns 285,193 shares of the real estate investment trust's stock valued at $5,846,000 after purchasing an additional 251,984 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Independence Realty Trust by 9.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 55,102 shares of the real estate investment trust's stock worth $1,130,000 after buying an additional 4,755 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Independence Realty Trust by 0.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,984 shares of the real estate investment trust's stock worth $2,050,000 after buying an additional 526 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Independence Realty Trust by 419.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,433,058 shares of the real estate investment trust's stock worth $29,378,000 after buying an additional 1,157,052 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new stake in shares of Independence Realty Trust during the 3rd quarter valued at about $306,000. Institutional investors own 88.25% of the company's stock.

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Insider Activity at Independence Realty Trust

In other Independence Realty Trust news, CEO Scott Schaeffer sold 10,000 shares of Independence Realty Trust stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $21.21, for a total transaction of $212,100.00. Following the completion of the sale, the chief executive officer now directly owns 873,365 shares of the company's stock, valued at $18,524,071.65. The trade was a 1.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.58% of the stock is owned by company insiders.

Independence Realty Trust Stock Performance

Independence Realty Trust stock traded down $1.55 during mid-day trading on Friday, hitting $19.00. The company's stock had a trading volume of 3,371,356 shares, compared to its average volume of 2,139,087. Independence Realty Trust, Inc. has a one year low of $15.27 and a one year high of $22.26. The stock has a market cap of $4.39 billion, a PE ratio of 105.56, a P/E/G ratio of 2.91 and a beta of 0.98. The company has a 50 day moving average of $20.54 and a 200-day moving average of $20.31.

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 EPS for the quarter, topping 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, equities research analysts forecast that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Friday, March 28th will be issued 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 3.37%. Independence Realty Trust's payout ratio is 355.56%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wells Fargo & Company began coverage on Independence Realty Trust in a research note on Wednesday, March 19th. They set an "overweight" rating and a $24.00 price objective on the stock. Barclays decreased their price target on Independence Realty Trust from $21.00 to $20.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Jefferies Financial Group raised shares of Independence Realty Trust from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $20.00 to $24.00 in a research note on Monday, March 10th. Finally, JMP Securities reissued a "market outperform" rating and issued a $22.00 target price on shares of Independence Realty Trust in a research note on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's 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 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.