Charles Schwab Investment Management Inc. Purchases 57,108 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Charles Schwab Investment Management Inc. grew its stake in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,618,723 shares of the real estate investment trust's stock after buying an additional 57,108 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.55% of Independence Realty Trust worth $76,825,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new stake in Independence Realty Trust during the 4th quarter valued at about $83,000. Wealthquest Corp purchased a new stake in Independence Realty Trust during the 1st quarter valued at about $85,000. State of Wyoming grew its position in Independence Realty Trust by 49.2% during the 4th quarter. State of Wyoming now owns 4,355 shares of the real estate investment trust's stock valued at $86,000 after purchasing an additional 1,437 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in Independence Realty Trust during the 1st quarter valued at about $90,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Independence Realty Trust during the 1st quarter valued at about $107,000. Hedge funds and other institutional investors own 88.25% of the company's stock.

Analysts Set New Price Targets

IRT has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Independence Realty Trust from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 12th. Wall Street Zen raised shares of Independence Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Compass Point raised shares of Independence Realty Trust from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $22.00 to $24.00 in a report on Thursday, July 31st. UBS Group dropped their price objective on shares of Independence Realty Trust from $24.00 to $21.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. Finally, JMP Securities reissued a "market outperform" rating and issued a $25.00 price objective on shares of Independence Realty Trust in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Independence Realty Trust has an average rating of "Moderate Buy" and a consensus target price of $22.56.

Independence Realty Trust Stock Performance

Shares of Independence Realty Trust stock traded up $0.12 on Friday, hitting $17.44. 2,997,063 shares of the company traded hands, compared to its average volume of 2,705,176. The stock has a market capitalization of $4.08 billion, a P/E ratio of 145.33, a price-to-earnings-growth ratio of 2.40 and a beta of 0.94. Independence Realty Trust, Inc. has a 52 week low of $16.59 and a 52 week high of $22.26. The business has a 50-day simple moving average of $17.54 and a 200 day simple moving average of $18.97.

Independence Realty Trust (NYSE:IRT - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. Independence Realty Trust had a net margin of 4.31% and a return on equity of 0.78%. The firm had revenue of $161.89 million for the quarter, compared to analysts' expectations of $164.78 million. During the same quarter last year, the business posted $0.28 earnings per share. Research analysts expect that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust 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.