Asset Management One Co. Ltd. Buys 1,751 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Asset Management One Co. Ltd. boosted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 346,439 shares of the real estate investment trust’s stock after acquiring an additional 1,751 shares during the quarter. Asset Management One Co. Ltd. owned 0.15% of Independence Realty Trust worth $6,915,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in Independence Realty Trust during the 3rd quarter worth approximately $28,000. Blue Trust Inc. grew its holdings in 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 during the last quarter. Assetmark Inc. bought a new stake in Independence Realty Trust during the 3rd quarter worth approximately $41,000. Avior Wealth Management LLC grew its holdings in Independence Realty Trust by 437.8% during the 3rd quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 2,443 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of Independence Realty Trust in the 3rd quarter valued at $64,000. 88.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IRT has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $19.00 to $21.00 in a research note on Friday, November 15th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a research note on Tuesday, February 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.50.

Independence Realty Trust Trading Up 0.0 %

Shares of Independence Realty Trust stock opened at $20.53 on Tuesday. Independence Realty Trust, Inc. has a 12-month low of $14.35 and a 12-month high of $22.26. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 2.77 and a beta of 1.21. The company’s 50-day moving average price is $19.75 and its 200-day moving average price is $20.10.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.24. Independence Realty Trust had a negative net margin of 0.03% and a negative return on equity of 0.01%. On average, sell-side analysts predict that Independence Realty Trust, Inc. will post 1.15 earnings per share for the current year.

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Tuesday, December 31st.

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.