MetLife Investment Management LLC Grows Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

MetLife Investment Management LLC boosted its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 265,667 shares of the real estate investment trust's stock after acquiring an additional 17,218 shares during the quarter. MetLife Investment Management LLC owned 0.12% of Independence Realty Trust worth $5,271,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of IRT. Natixis acquired a new stake in shares of Independence Realty Trust during the 4th quarter worth approximately $792,000. CANADA LIFE ASSURANCE Co boosted its holdings in Independence Realty Trust by 9.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 429,530 shares of the real estate investment trust's stock worth $8,511,000 after buying an additional 38,147 shares in the last quarter. Farringdon Capital Ltd. acquired a new stake in Independence Realty Trust during the fourth quarter valued at $270,000. Marshall Wace LLP increased its stake in shares of Independence Realty Trust by 38.0% in the 4th quarter. Marshall Wace LLP now owns 672,188 shares of the real estate investment trust's stock valued at $13,336,000 after purchasing an additional 184,931 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of Independence Realty Trust during the 4th quarter worth approximately $251,000. 88.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Independence Realty Trust news, CEO Scott Schaeffer sold 10,000 shares of Independence Realty Trust stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $21.21, for a total value of $212,100.00. Following the sale, the chief executive officer now owns 873,365 shares in the company, valued at $18,524,071.65. The trade was a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is currently owned by company insiders.

Independence Realty Trust Price Performance

Independence Realty Trust stock traded down $0.12 during trading on Tuesday, reaching $19.44. 394,644 shares of the company were exchanged, compared to its average volume of 2,093,497. The stock's 50 day simple moving average is $20.18 and its two-hundred day simple moving average is $20.15. The company has a market capitalization of $4.49 billion, a P/E ratio of 107.86, a PEG ratio of 2.91 and a beta of 0.98. Independence Realty Trust, Inc. has a 52-week low of $15.65 and a 52-week high of $22.26.

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

Independence Realty Trust Dividend Announcement

The firm 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. This represents a $0.64 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Friday, March 28th. 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.