Independence Realty Trust, Inc. (NYSE:IRT) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 3.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 722,128 shares of the real estate investment trust’s stock after acquiring an additional 20,826 shares during the period. Principal Financial Group Inc. owned 0.32% of Independence Realty Trust worth $14,327,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in IRT. Blue Trust Inc. raised its position 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 worth $38,000 after acquiring an additional 1,527 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of Independence Realty Trust during the 3rd quarter worth about $257,000. Mirae Asset Global Investments Co. Ltd. increased its position in Independence Realty Trust by 259.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,297 shares of the real estate investment trust’s stock worth $477,000 after buying an additional 16,814 shares during the period. PFG Investments LLC acquired a new position in Independence Realty Trust during the third quarter worth approximately $228,000. Finally, abrdn plc increased its position in Independence Realty Trust by 10.0% during the third quarter. abrdn plc now owns 45,170 shares of the real estate investment trust’s stock worth $926,000 after buying an additional 4,102 shares during the period. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Trading Down 0.2 %

NYSE:IRT opened at $20.85 on Thursday. The firm has a market cap of $4.82 billion, a P/E ratio of 115.84, a PEG ratio of 2.91 and a beta of 1.21. The stock’s 50 day simple moving average is $19.67 and its 200-day simple moving average is $20.16. 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) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (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%. Research analysts forecast that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were paid 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 3.07%. Independence Realty Trust’s dividend payout ratio (DPR) is presently 355.56%.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays cut their price target on Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. JMP Securities reaffirmed a “market outperform” rating and set a $22.00 price target on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Finally, BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $19.00 to $21.00 in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.33.

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.