Proficio Capital Partners LLC Acquires Shares of 10,277 Independence Realty Trust, Inc. (NYSE:IRT)

Proficio Capital Partners LLC purchased a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,277 shares of the real estate investment trust’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Global Retirement Partners LLC grew its holdings in Independence Realty Trust by 66.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 521 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Independence Realty Trust by 0.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,984 shares of the real estate investment trust’s stock worth $2,050,000 after purchasing an additional 526 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Independence Realty Trust by 0.5% in the fourth quarter. State of Alaska Department of Revenue now owns 133,831 shares of the real estate investment trust’s stock worth $2,654,000 after purchasing an additional 643 shares during the last quarter. Blue Trust Inc. increased its holdings in Independence Realty Trust by 33.9% in the fourth quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 692 shares during the period. Finally, Sound Income Strategies LLC raised its position in Independence Realty Trust by 20.5% during the 4th quarter. Sound Income Strategies LLC now owns 4,295 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 732 shares during the last quarter. Institutional investors own 88.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IRT. JMP Securities reiterated a “market outperform” rating and issued a $22.00 price target on shares of Independence Realty Trust in a research report on Tuesday, February 11th. BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $19.00 to $21.00 in a research note on Friday, November 15th. Barclays decreased their target price on shares of Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Finally, Jefferies Financial Group upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating and boosted their price target for the stock from $20.00 to $24.00 in a research report on Monday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.71.

Independence Realty Trust Price Performance

NYSE IRT opened at $20.60 on Thursday. The stock has a market capitalization of $4.76 billion, a P/E ratio of 114.43, a P/E/G ratio of 2.91 and a beta of 1.19. The business has a 50 day simple moving average of $19.90 and a 200 day simple moving average of $20.27. Independence Realty Trust, Inc. has a one year low of $15.23 and a one year high of $22.26.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data 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%. Equities analysts expect that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, March 28th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, March 28th. This represents a $0.64 annualized dividend and a dividend yield of 3.11%. 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.