Independence Realty Trust, Inc. (NYSE:IRT) Shares Bought by Marshall Wace LLP

Marshall Wace LLP lifted its position in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 38.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 672,188 shares of the real estate investment trust's stock after purchasing an additional 184,931 shares during the period. Marshall Wace LLP owned 0.30% of Independence Realty Trust worth $13,336,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of IRT. Stifel Financial Corp purchased a new stake in shares of Independence Realty Trust in the 3rd quarter worth about $576,000. MML Investors Services LLC purchased a new stake in Independence Realty Trust during the 3rd quarter valued at about $246,000. Barclays PLC raised its holdings in Independence Realty Trust by 182.3% in the 3rd quarter. Barclays PLC now owns 400,376 shares of the real estate investment trust's stock worth $8,208,000 after acquiring an additional 258,549 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Independence Realty Trust during the third quarter valued at $267,000. Finally, Tidal Investments LLC raised its holdings in shares of Independence Realty Trust by 751.4% during the third quarter. Tidal Investments LLC now owns 93,325 shares of the real estate investment trust's stock valued at $1,913,000 after purchasing an additional 82,364 shares during the last quarter. 88.25% of the stock is owned by institutional investors.

Insider Buying and Selling at Independence Realty Trust

In other news, CEO Scott Schaeffer sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $21.21, for a total transaction of $212,100.00. Following the transaction, the chief executive officer now directly owns 873,365 shares of the company's stock, valued at approximately $18,524,071.65. This trade represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.58% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

IRT has been the topic of a number of research reports. JMP Securities reissued a "market outperform" rating and issued a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday, February 11th. UBS Group began coverage on shares of Independence Realty Trust in a research report on Monday, April 7th. They set a "buy" rating and a $24.00 target price for the company. Jefferies Financial Group upgraded Independence Realty Trust from a "hold" rating to a "buy" rating and raised their price objective for the company from $20.00 to $24.00 in a research report on Monday, March 10th. Barclays boosted their target price on 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. Finally, Wells Fargo & Company initiated coverage on Independence Realty Trust in a research note on Wednesday, March 19th. They set an "overweight" rating and a $24.00 price target for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.33.

Independence Realty Trust Price Performance

Shares of NYSE:IRT traded up $0.20 during trading on Friday, hitting $19.61. The company had a trading volume of 3,344,619 shares, compared to its average volume of 2,098,955. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 108.94, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98. The company has a fifty day simple moving average of $20.20 and a two-hundred day simple moving average of $20.14. Independence Realty Trust, Inc. has a one year low of $15.65 and a one year high of $22.26.

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

Independence Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders 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 3.26%. Independence Realty Trust's payout ratio is 355.56%.

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.