Independence Realty Trust, Inc. (NYSE:IRT) Holdings Cut by California Public Employees Retirement System

California Public Employees Retirement System lessened its position in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 3.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 418,942 shares of the real estate investment trust's stock after selling 16,476 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of Independence Realty Trust worth $8,312,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in IRT. Global Retirement Partners LLC increased its position in Independence Realty Trust by 66.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust's stock worth $26,000 after buying an additional 521 shares in the last quarter. SRS Capital Advisors Inc. increased its position in Independence Realty Trust by 627.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 2,008 shares in the last quarter. Jones Financial Companies Lllp increased its position in Independence Realty Trust by 67.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 1,000 shares in the last quarter. Blue Trust Inc. raised its stake in 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 during the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in Independence Realty Trust in the 3rd quarter valued at about $64,000. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Scott Schaeffer sold 10,000 shares of the business's stock in a transaction on 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 owns 873,365 shares of the company's stock, valued at approximately $18,524,071.65. The trade was a 1.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.58% of the company's stock.

Independence Realty Trust Stock Performance

Shares of Independence Realty Trust stock traded down $0.08 during trading on Friday, reaching $18.22. The company had a trading volume of 2,219,823 shares, compared to its average volume of 2,134,464. The firm's fifty day moving average is $20.41 and its 200-day moving average is $20.19. Independence Realty Trust, Inc. has a fifty-two week low of $15.27 and a fifty-two week high of $22.26. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 101.19, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98.

Independence Realty Trust (NYSE:IRT - Get Free Report) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.24. Independence Realty Trust had a return on equity of 1.11% and a net margin of 6.15%. On average, research analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Dividend Announcement

The business 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 $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Friday, March 28th. Independence Realty Trust's dividend payout ratio is currently 355.56%.

Wall Street Analysts Forecast Growth

IRT has been the subject of a number of recent research reports. UBS Group assumed coverage on shares of Independence Realty Trust in a report on Monday, April 7th. They set a "buy" rating and a $24.00 price target for the company. Wells Fargo & Company assumed coverage on shares of Independence Realty Trust in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $24.00 target price for the company. JMP Securities restated a "market outperform" rating and set a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday, February 11th. Barclays upped their target price on Independence Realty Trust from $20.00 to $21.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, Jefferies Financial Group raised Independence Realty Trust from a "hold" rating to a "buy" rating and raised their price target for the stock from $20.00 to $24.00 in a research note on Monday, March 10th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Independence Realty Trust has an average rating of "Moderate Buy" and an average price target of $22.33.

About Independence Realty Trust

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.