Invesco Ltd. Trims Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Invesco Ltd. decreased its position in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 12.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 509,441 shares of the real estate investment trust's stock after selling 70,358 shares during the period. Invesco Ltd. owned approximately 0.23% of Independence Realty Trust worth $10,107,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC boosted its stake in shares of Independence Realty Trust by 66.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 521 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of Independence Realty Trust by 627.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust's stock valued at $46,000 after purchasing an additional 2,008 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of 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 period. Blue Trust Inc. boosted its stake 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 valued at $56,000 after purchasing an additional 692 shares during the period. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Independence Realty Trust during the fourth quarter valued at $70,000. Institutional investors own 88.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IRT shares. 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 for the company. JMP Securities reaffirmed a "market outperform" rating and issued a $22.00 price objective on shares of Independence Realty Trust in a research note on Tuesday, February 11th. Barclays upped their price objective on shares of Independence Realty Trust from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. Jefferies Financial Group raised shares of Independence Realty Trust from a "hold" rating to a "buy" rating and upped their price objective for the stock from $20.00 to $24.00 in a research note on Monday, March 10th. Finally, Wells Fargo & Company started coverage on shares of Independence Realty Trust in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $24.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.33.

Insider Activity at Independence Realty Trust

In related news, CEO Scott Schaeffer sold 10,000 shares of the business's stock in a transaction on 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 transaction, the chief executive officer now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.58% of the company's stock.

Independence Realty Trust Price Performance

NYSE IRT traded down $0.02 during trading hours on Monday, hitting $19.56. 2,066,593 shares of the company's stock traded hands, compared to its average volume of 2,100,146. The firm's 50-day moving average is $20.18 and its 200-day moving average is $20.15. Independence Realty Trust, Inc. has a 52-week low of $15.65 and a 52-week high of $22.26. The company has a market capitalization of $4.52 billion, a PE ratio of 108.67, a PEG ratio of 2.91 and a beta of 0.98.

Independence Realty Trust (NYSE:IRT - Get Free Report) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.24. Independence Realty Trust had a return on equity of 1.11% and a net margin of 6.15%. Equities research analysts predict that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Friday, March 28th were issued a $0.16 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.64 annualized dividend and a dividend yield of 3.27%. Independence Realty Trust's dividend payout ratio is presently 355.56%.

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.