Independence Realty Trust, Inc. (NYSE:IRT) Stake Lifted by Algert Global LLC

Algert Global LLC increased its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 12.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 183,764 shares of the real estate investment trust's stock after purchasing an additional 20,421 shares during the quarter. Algert Global LLC owned approximately 0.08% of Independence Realty Trust worth $3,646,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Global Retirement Partners LLC boosted its holdings in shares of Independence Realty Trust by 66.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 521 shares in the last quarter. Amundi lifted its position 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 valued at $2,304,000 after acquiring an additional 597 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Independence Realty Trust by 0.5% in 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 acquiring an additional 643 shares in the last quarter. Blue Trust Inc. increased 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, Ironsides Asset Advisors LLC lifted its holdings in shares of Independence Realty Trust by 7.0% in 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 purchasing an additional 725 shares during the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Jefferies Financial Group upgraded Independence Realty Trust from a "hold" rating to a "buy" rating and raised their price target for the stock from $20.00 to $24.00 in a research note on Monday, March 10th. UBS Group started coverage on shares of Independence Realty Trust in a research note on Monday, April 7th. They issued a "buy" rating and a $24.00 price objective on the stock. Wells Fargo & Company assumed coverage on Independence Realty Trust in a report on Wednesday, March 19th. They set an "overweight" rating and a $24.00 price target on the stock. JMP Securities reaffirmed 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. Finally, Barclays boosted their target price on Independence Realty Trust from $21.00 to $22.00 and gave the company an "equal weight" rating in a report on Friday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.78.

Independence Realty Trust Price Performance

Shares of NYSE IRT traded up $0.14 on Monday, hitting $19.25. The company's stock had a trading volume of 156,252 shares, compared to its average volume of 2,089,638. The stock has a 50 day moving average of $19.87 and a 200-day moving average of $20.13. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 106.87, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98. Independence Realty Trust, Inc. has a 12-month low of $15.66 and a 12-month high of $22.26.

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

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Friday, March 28th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Friday, March 28th. Independence Realty Trust's dividend payout ratio is currently 457.14%.

Insider Activity

In other 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 owns 873,365 shares in the company, valued at approximately $18,524,071.65. The trade was a 1.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 11,000 shares of company stock valued at $232,245 over the last quarter. Company insiders own 0.58% of the company's stock.

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.