32,964 Shares in Independence Realty Trust, Inc. (NYSE:IRT) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas acquired a new stake in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 32,964 shares of the real estate investment trust's stock, valued at approximately $700,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Independence Realty Trust by 30.4% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,452 shares of the real estate investment trust's stock valued at $1,177,000 after purchasing an additional 12,915 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Independence Realty Trust by 2.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,626 shares of the real estate investment trust's stock worth $5,300,000 after acquiring an additional 5,812 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Independence Realty Trust by 20.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 45,770 shares of the real estate investment trust's stock worth $978,000 after acquiring an additional 7,701 shares during the period. Wealthquest Corp bought a new position in shares of Independence Realty Trust during the 1st quarter worth about $85,000. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Independence Realty Trust by 2.7% during the 1st quarter. Asset Management One Co. Ltd. now owns 355,905 shares of the real estate investment trust's stock worth $7,556,000 after acquiring an additional 9,466 shares during the period. Institutional investors and hedge funds own 88.25% of the company's stock.

Wall Street Analyst Weigh In

IRT has been the subject of several research reports. Compass Point restated a "neutral" rating and issued a $22.00 price objective on shares of Independence Realty Trust in a research report on Tuesday, May 13th. JMP Securities reissued a "market outperform" rating and set a $25.00 price objective on shares of Independence Realty Trust in a research note on Monday, May 5th. Barclays lifted their price objective on shares of Independence Realty Trust from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Finally, UBS Group reduced 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 research note on Tuesday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Independence Realty Trust presently has a consensus rating of "Moderate Buy" and an average price target of $22.40.

Independence Realty Trust Trading Down 0.4%

NYSE:IRT traded down $0.07 on Friday, reaching $17.20. 1,664,577 shares of the stock traded hands, compared to its average volume of 2,042,125. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 122.86, a price-to-earnings-growth ratio of 2.45 and a beta of 0.93. The company's 50 day moving average is $18.09 and its 200-day moving average is $19.22. Independence Realty Trust, Inc. has a 1-year low of $17.05 and a 1-year high of $22.26.

Independence Realty Trust (NYSE:IRT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.01). Independence Realty Trust had a return on equity of 0.85% and a net margin of 4.70%. The firm had revenue of $160.91 million during the quarter, compared to the consensus estimate of $164.08 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. Independence Realty Trust's revenue for the quarter was up .4% on a year-over-year basis. On average, equities research analysts forecast that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Friday, June 27th were paid a $0.17 dividend. This is a positive change from Independence Realty Trust's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.68 annualized dividend and a yield of 3.95%. Independence Realty Trust's dividend payout ratio (DPR) is 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.