Independence Realty Trust, Inc. (NYSE:IRT) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,506,902 shares of the real estate investment trust’s stock after purchasing an additional 11,784 shares during the period. JPMorgan Chase & Co. owned approximately 1.11% of Independence Realty Trust worth $49,737,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Global Retirement Partners LLC boosted its stake in shares of Independence Realty Trust by 66.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 521 shares in the last quarter. Amundi boosted its position in shares of Independence Realty Trust by 0.5% during the 4th quarter. Amundi now owns 122,544 shares of the real estate investment trust’s stock worth $2,304,000 after purchasing an additional 597 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Independence Realty Trust by 0.5% during the 4th 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 period. Blue Trust Inc. increased its holdings in shares of Independence Realty Trust by 33.9% in the 4th 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 in the last quarter. Finally, Ironsides Asset Advisors LLC lifted its stake in shares of Independence Realty Trust by 7.0% in the fourth quarter. Ironsides Asset Advisors LLC now owns 11,070 shares of the real estate investment trust’s stock valued at $220,000 after purchasing an additional 725 shares during the period. 88.25% of the stock is owned by hedge funds and other institutional investors.

Independence Realty Trust Stock Down 7.5 %

Shares of NYSE:IRT opened at $19.00 on Friday. The company has a market capitalization of $4.39 billion, a P/E ratio of 105.56, a P/E/G ratio of 2.91 and a beta of 0.98. Independence Realty Trust, Inc. has a 52-week low of $15.27 and a 52-week high of $22.26. The stock’s fifty day simple moving average is $20.54 and its 200-day simple moving average is $20.32.

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 net margin of 6.15% and a return on equity of 1.11%. On average, sell-side analysts anticipate that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, March 28th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.64 annualized dividend and a yield of 3.37%. Independence Realty Trust’s payout ratio is currently 355.56%.

Insider Buying and Selling at Independence Realty Trust

In other Independence Realty Trust news, CEO Scott Schaeffer sold 10,000 shares of the firm’s 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 directly owns 873,365 shares of the company’s stock, valued at approximately $18,524,071.65. This trade represents a 1.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.58% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IRT. Jefferies Financial Group upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating and upped their target price for the stock from $20.00 to $24.00 in a research report on Monday, March 10th. Wells Fargo & Company assumed coverage on Independence Realty Trust in a report on Wednesday, March 19th. They issued an “overweight” rating and a $24.00 price target on the stock. Barclays reduced their price objective on Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Finally, JMP Securities reissued a “market outperform” rating and issued a $22.00 target price on shares of Independence Realty Trust in a report on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.