Wells Fargo & Company MN Buys 23,186 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Wells Fargo & Company MN increased its position in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 9.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 278,566 shares of the real estate investment trust's stock after purchasing an additional 23,186 shares during the period. Wells Fargo & Company MN owned about 0.12% of Independence Realty Trust worth $5,527,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its holdings in shares of Independence Realty Trust by 66.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 521 shares during the period. SRS Capital Advisors Inc. increased its stake in Independence Realty Trust by 627.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust's stock valued at $46,000 after buying an additional 2,008 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Independence Realty Trust by 67.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 1,000 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Independence Realty Trust by 33.9% during the fourth quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust's stock worth $56,000 after acquiring an additional 692 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in Independence Realty Trust during the fourth quarter valued at $70,000. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Independence Realty Trust

In related news, CEO Scott Schaeffer sold 10,000 shares of Independence Realty Trust stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $21.21, for a total value of $212,100.00. Following the sale, the chief executive officer now owns 873,365 shares of the company's stock, valued at approximately $18,524,071.65. The trade was a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is owned by insiders.

Independence Realty Trust Stock Performance

Independence Realty Trust stock traded down $0.12 during trading hours on Thursday, reaching $19.47. 126,504 shares of the company's stock traded hands, compared to its average volume of 2,098,121. Independence Realty Trust, Inc. has a fifty-two week low of $15.27 and a fifty-two week high of $22.26. The firm's 50 day moving average is $20.25 and its 200-day moving average is $20.13. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 108.28, a PEG ratio of 2.91 and a beta of 0.98.

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 EPS for the quarter, beating 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%. Analysts predict that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Friday, March 28th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Friday, March 28th. Independence Realty Trust's dividend payout ratio (DPR) is presently 355.56%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IRT shares. JMP Securities reaffirmed a "market outperform" rating and issued a $22.00 target price on shares of Independence Realty Trust in a research report on Tuesday, February 11th. UBS Group assumed coverage on shares of Independence Realty Trust in a research report on Monday, April 7th. They issued a "buy" rating and a $24.00 price target on the stock. Jefferies Financial Group raised shares of Independence Realty Trust from a "hold" rating to a "buy" rating and upped their price objective for the stock from $20.00 to $24.00 in a report on Monday, March 10th. Barclays lifted their target price on shares of Independence Realty Trust from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Finally, Wells Fargo & Company initiated coverage on shares of Independence Realty Trust in a report on Wednesday, March 19th. They set an "overweight" rating and a $24.00 price target for the company. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Independence Realty Trust currently has an average rating of "Moderate Buy" and an average price target of $22.33.

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.