Independence Realty Trust, Inc. (NYSE:IRT) Holdings Lowered by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,240,872 shares of the real estate investment trust's stock after selling 15,379 shares during the period. Dimensional Fund Advisors LP owned about 1.44% of Independence Realty Trust worth $64,299,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC grew its position 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 worth $26,000 after acquiring an additional 521 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in Independence Realty Trust by 627.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 2,008 shares during the period. Jones Financial Companies Lllp increased its stake in Independence Realty Trust by 67.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 1,000 shares during the last quarter. Blue Trust Inc. raised its holdings 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 during the period. Finally, Venturi Wealth Management LLC bought a new position in shares of Independence Realty Trust in the 4th quarter worth about $70,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Independence Realty Trust Trading Down 0.9 %

IRT traded down $0.18 on Monday, reaching $19.47. The company had a trading volume of 1,429,891 shares, compared to its average volume of 2,096,914. Independence Realty Trust, Inc. has a one year low of $15.66 and a one year high of $22.26. The company has a market capitalization of $4.50 billion, a P/E ratio of 108.14, a PEG ratio of 2.91 and a beta of 0.98. The company has a fifty day moving average of $20.08 and a 200-day moving average of $20.15.

Independence Realty Trust (NYSE:IRT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts' consensus estimates 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 6.15% and a return on equity of 1.11%. Independence Realty Trust's revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. Research analysts predict that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Friday, March 28th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Friday, March 28th. Independence Realty Trust's payout ratio is currently 457.14%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IRT. 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 price objective on the stock. JMP Securities reissued a "market outperform" rating and issued a $25.00 price target on shares of Independence Realty Trust in a report on Monday. UBS Group began coverage on Independence Realty Trust in a research report on Monday, April 7th. They set a "buy" rating and a $24.00 price objective for the company. Jefferies Financial Group raised Independence Realty Trust from a "hold" rating to a "buy" rating and increased their target price for the stock from $20.00 to $24.00 in a research report on Monday, March 10th. Finally, Barclays upped their price target on shares of Independence Realty Trust from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $22.67.

Insiders Place Their Bets

In other news, CEO Scott Schaeffer sold 10,000 shares of Independence Realty Trust stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $21.21, for a total value of $212,100.00. Following the transaction, the chief executive officer now owns 873,365 shares of the company's stock, valued at $18,524,071.65. The trade was a 1.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders have sold 11,000 shares of company stock worth $232,245. 0.58% of the stock is owned by corporate insiders.

About Independence Realty Trust

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.