Price T Rowe Associates Inc. MD Acquires 14,854 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Price T Rowe Associates Inc. MD increased its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,992 shares of the real estate investment trust's stock after purchasing an additional 14,854 shares during the period. Price T Rowe Associates Inc. MD owned 0.06% of Independence Realty Trust worth $2,897,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Global Retirement Partners LLC boosted 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 buying an additional 521 shares in the last quarter. SRS Capital Advisors Inc. grew its position 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 valued at $46,000 after acquiring an additional 2,008 shares in the last quarter. Jones Financial Companies Lllp grew its position in Independence Realty Trust by 67.1% in 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 acquiring an additional 1,000 shares in the last quarter. Blue Trust Inc. grew its position in Independence Realty Trust by 33.9% in the fourth quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust's stock valued at $56,000 after acquiring an additional 692 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of Independence Realty Trust during the 4th quarter valued at approximately $70,000. Institutional investors and hedge funds own 88.25% of the company's stock.

Independence Realty Trust Trading Down 0.4%

NYSE:IRT traded down $0.07 during mid-day trading on Friday, reaching $19.12. 1,420,933 shares of the stock were exchanged, compared to its average volume of 2,097,261. The business has a fifty day moving average price of $19.87 and a 200 day moving average price of $20.13. The firm has a market capitalization of $4.47 billion, a PE ratio of 106.22, a PEG ratio of 2.91 and a beta of 0.98. Independence Realty Trust, Inc. has a 1-year low of $15.66 and a 1-year 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). Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.11%. The company had revenue of $160.91 million during the quarter, compared to analyst estimates of $164.08 million. During the same quarter last year, the business earned $0.27 EPS. The company's revenue for the quarter was up .4% compared to the same quarter last year. On average, sell-side 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. Shareholders of record on Friday, March 28th were given a dividend of $0.16 per share. The ex-dividend date was Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a yield of 3.35%. Independence Realty Trust's payout ratio is presently 457.14%.

Insiders Place Their Bets

In other news, CEO Scott Schaeffer sold 10,000 shares of Independence Realty Trust 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 directly owns 873,365 shares in the company, valued at $18,524,071.65. The trade was a 1.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 11,000 shares of company stock worth $232,245. 0.58% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Barclays increased their target price on Independence Realty Trust from $21.00 to $22.00 and gave the company an "equal weight" rating in a research note on Friday. JMP Securities restated 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. Jefferies Financial Group upgraded Independence Realty Trust from a "hold" rating to a "buy" rating and raised their target price for the company from $20.00 to $24.00 in a research note on Monday, March 10th. UBS Group initiated coverage on Independence Realty Trust in a research note on Monday, April 7th. They issued a "buy" rating and a $24.00 target price on the stock. Finally, Wells Fargo & Company initiated coverage on Independence Realty Trust in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $24.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Independence Realty Trust presently has an average rating of "Moderate Buy" and a consensus target price of $22.78.

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.