Independence Realty Trust, Inc. (NYSE:IRT) Stock Holdings Boosted by Deutsche Bank AG

Deutsche Bank AG raised its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 72.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,381,684 shares of the real estate investment trust's stock after buying an additional 1,421,377 shares during the period. Deutsche Bank AG owned about 1.50% of Independence Realty Trust worth $67,093,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC lifted its position in shares of 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 purchasing an additional 521 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Independence Realty Trust by 627.5% during the fourth 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 lifted its position in shares of Independence Realty Trust by 67.1% during the fourth 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. lifted its position in shares of Independence Realty Trust by 33.9% during the fourth quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust's stock worth $56,000 after purchasing an additional 692 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of Independence Realty Trust during the fourth quarter worth $70,000. 88.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IRT. Wells Fargo & Company began coverage on shares of Independence Realty Trust in a research report on Wednesday, March 19th. They set an "overweight" rating and a $24.00 target price on the stock. Jefferies Financial Group raised shares of Independence Realty Trust from a "hold" rating to a "buy" rating and upped their price target for the company from $20.00 to $24.00 in a report on Monday, March 10th. UBS Group initiated coverage on shares of Independence Realty Trust in a report on Monday, April 7th. They issued a "buy" rating and a $24.00 price target on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $25.00 price target on shares of Independence Realty Trust in a report on Monday, May 5th. Finally, Compass Point reaffirmed a "neutral" rating and issued a $22.00 price target on shares of Independence Realty Trust in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.70.

Independence Realty Trust Stock Up 1.9%

IRT stock traded up $0.36 during trading on Friday, hitting $19.58. 2,527,559 shares of the company's stock traded hands, compared to its average volume of 2,097,678. Independence Realty Trust, Inc. has a 52 week low of $15.66 and a 52 week high of $22.26. The stock has a fifty day moving average price of $19.67 and a two-hundred day moving average price of $20.11. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 108.78, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98.

Independence Realty Trust (NYSE:IRT - Get Free Report) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.11%. The business had revenue of $160.91 million for the quarter, compared to the consensus estimate of $164.08 million. During the same quarter in the previous year, the firm earned $0.27 EPS. The firm's revenue for the quarter was up .4% on a year-over-year basis. As a group, equities research analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.17 per share. This is a positive change from Independence Realty Trust's previous quarterly dividend of $0.16. The ex-dividend date is Friday, June 27th. This represents a $0.68 annualized dividend and a yield of 3.47%. Independence Realty Trust's payout ratio is presently 485.71%.

Insider Buying and Selling at Independence Realty Trust

In other news, CEO Scott Schaeffer sold 10,000 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $21.21, for a total transaction of $212,100.00. Following the completion of the transaction, the chief executive officer now owns 873,365 shares in the company, valued at approximately $18,524,071.65. This represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 11,000 shares of company stock worth $232,245 over the last 90 days. Insiders own 0.58% of the company's stock.

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.