B&I Capital AG Sells 57,350 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

B&I Capital AG decreased its position in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 436,610 shares of the real estate investment trust's stock after selling 57,350 shares during the quarter. Independence Realty Trust accounts for approximately 3.0% of B&I Capital AG's holdings, making the stock its 12th biggest holding. B&I Capital AG owned approximately 0.19% of Independence Realty Trust worth $9,269,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. acquired a new stake in shares of Independence Realty Trust in the 4th quarter valued at $1,781,000. Principal Financial Group Inc. grew its stake in Independence Realty Trust by 3.5% in the first quarter. Principal Financial Group Inc. now owns 747,252 shares of the real estate investment trust's stock valued at $15,864,000 after acquiring an additional 25,124 shares during the period. GAMMA Investing LLC lifted its stake in Independence Realty Trust by 1,991.6% in the first quarter. GAMMA Investing LLC now owns 36,749 shares of the real estate investment trust's stock valued at $7,800,000 after buying an additional 34,992 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Independence Realty Trust by 5.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 298,131 shares of the real estate investment trust's stock valued at $5,915,000 after purchasing an additional 16,331 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Independence Realty Trust by 28.8% during the 4th quarter. Northern Trust Corp now owns 3,551,247 shares of the real estate investment trust's stock worth $70,457,000 after acquiring an additional 793,403 shares during the last quarter. 88.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. 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 report on Friday, May 9th. UBS Group decreased their price target on shares of Independence Realty Trust from $24.00 to $21.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Compass Point reissued a "neutral" rating and set a $22.00 target price on shares of Independence Realty Trust in a research note on Tuesday, May 13th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $25.00 target price on shares of Independence Realty Trust in a research 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. According to MarketBeat.com, Independence Realty Trust currently has an average rating of "Moderate Buy" and an average price target of $22.40.

Independence Realty Trust Price Performance

Shares of Independence Realty Trust stock traded down $0.01 on Friday, hitting $17.41. 540,536 shares of the company's stock traded hands, compared to its average volume of 2,112,923. The company has a fifty day moving average of $17.97 and a two-hundred day moving average of $19.16. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 124.33, a price-to-earnings-growth ratio of 2.49 and a beta of 0.93. Independence Realty Trust, Inc. has a one year low of $17.05 and a one year high of $22.26.

Independence Realty Trust (NYSE:IRT - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $160.91 million for the quarter, compared to analyst estimates of $164.08 million. Independence Realty Trust had a net margin of 4.70% and a return on equity of 0.85%. Independence Realty Trust's revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 EPS. Equities research analysts anticipate that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Friday, June 27th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend was Friday, June 27th. This is a positive change from Independence Realty Trust's previous quarterly dividend of $0.16. Independence Realty Trust's dividend payout ratio (DPR) is currently 485.71%.

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.