Independence Realty Trust, Inc. (NYSE:IRT) Shares Purchased by Jones Financial Companies Lllp

Jones Financial Companies Lllp increased its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 67.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,491 shares of the real estate investment trust’s stock after acquiring an additional 1,000 shares during the quarter. Jones Financial Companies Lllp’s holdings in Independence Realty Trust were worth $49,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC raised its stake 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 in the last quarter. Assetmark Inc. acquired a new stake in Independence Realty Trust during the 3rd quarter worth $41,000. SRS Capital Advisors Inc. increased its stake in Independence Realty Trust by 627.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 2,008 shares during the period. Blue Trust Inc. increased its stake 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, Avior Wealth Management LLC increased its stake in Independence Realty Trust by 437.8% in the third quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 2,443 shares during the period. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IRT has been the topic of a number of recent research reports. JMP Securities restated 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. Barclays dropped their price objective on shares of Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating and lifted their price objective for the company from $20.00 to $24.00 in a research note on Monday, March 10th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

Independence Realty Trust Stock Down 0.9 %

Shares of Independence Realty Trust stock opened at $20.81 on Wednesday. Independence Realty Trust, Inc. has a 52-week low of $15.23 and a 52-week high of $22.26. The company’s 50-day simple moving average is $20.01 and its 200-day simple moving average is $20.28. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 115.62, a price-to-earnings-growth ratio of 2.91 and a beta of 1.18.

Independence Realty Trust (NYSE:IRT) last issued 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 net margin of 6.15% and a return on equity of 1.11%. Equities research analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, March 28th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.08%. Independence Realty Trust’s dividend payout ratio (DPR) is 355.56%.

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.