259,407 Shares in Independence Realty Trust, Inc. (NYSE:IRT) Acquired by Blue Sky Capital Consultants Group Inc.

Blue Sky Capital Consultants Group Inc. acquired a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 259,407 shares of the real estate investment trust's stock, valued at approximately $5,147,000. Independence Realty Trust accounts for about 3.1% of Blue Sky Capital Consultants Group Inc.'s investment portfolio, making the stock its 10th biggest holding. Blue Sky Capital Consultants Group Inc. owned approximately 0.12% of Independence Realty Trust at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IRT. Global Retirement Partners LLC boosted 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 valued at $26,000 after purchasing an additional 521 shares in the last quarter. Amundi raised its holdings in Independence Realty Trust by 0.5% in the fourth 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 lifted its position in Independence Realty Trust by 0.5% during the fourth quarter. State of Alaska Department of Revenue now owns 133,831 shares of the real estate investment trust's stock valued at $2,654,000 after buying an additional 643 shares during the period. Blue Trust Inc. boosted its holdings in shares of Independence Realty Trust by 33.9% during the 4th quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust's stock valued at $56,000 after buying an additional 692 shares in the last quarter. Finally, Ironsides Asset Advisors LLC boosted its holdings in shares of Independence Realty Trust by 7.0% during the 4th quarter. Ironsides Asset Advisors LLC now owns 11,070 shares of the real estate investment trust's stock valued at $220,000 after buying an additional 725 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Stock Up 0.2%

Shares of Independence Realty Trust stock traded up $0.03 on Thursday, reaching $18.33. The company's stock had a trading volume of 602,268 shares, compared to its average volume of 1,920,867. Independence Realty Trust, Inc. has a 52 week low of $15.65 and a 52 week high of $22.26. The firm's fifty day simple moving average is $19.30 and its two-hundred day simple moving average is $20.02. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 101.69, a P/E/G ratio of 2.91 and a beta of 0.98.

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

Independence Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.71%. This is a boost from Independence Realty Trust's previous quarterly dividend of $0.16. The ex-dividend date is Friday, June 27th. Independence Realty Trust's payout ratio is presently 485.71%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Independence Realty Trust from a "hold" rating to a "buy" rating and increased their price target for the stock from $20.00 to $24.00 in a research note on Monday, March 10th. Wells Fargo & Company assumed coverage on shares of Independence Realty Trust in a research note on Wednesday, March 19th. They set an "overweight" rating and a $24.00 target price for the company. JMP Securities reissued a "market outperform" rating and issued a $25.00 price target on shares of Independence Realty Trust in a research report on Monday, May 5th. Barclays raised their price objective on Independence Realty Trust from $21.00 to $22.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Finally, UBS Group assumed coverage on Independence Realty Trust in a report on Monday, April 7th. They issued a "buy" rating and a $24.00 target price on the stock. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $22.70.

Insider Activity at Independence Realty Trust

In other Independence Realty Trust news, CEO Scott Schaeffer sold 10,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $21.21, for a total transaction of $212,100.00. Following the completion of the sale, the chief executive officer now directly owns 873,365 shares in the company, valued at $18,524,071.65. The trade was a 1.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 11,000 shares of company stock worth $232,245 over the last quarter. Company 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.