Schonfeld Strategic Advisors LLC Acquires Shares of 277,940 Independence Realty Trust, Inc. (NYSE:IRT)

Schonfeld Strategic Advisors LLC bought a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 277,940 shares of the real estate investment trust's stock, valued at approximately $5,514,000. Schonfeld Strategic Advisors LLC owned approximately 0.12% of Independence Realty Trust as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC increased its stake in Independence Realty Trust by 182.3% during the 3rd quarter. Barclays PLC now owns 400,376 shares of the real estate investment trust's stock worth $8,208,000 after buying an additional 258,549 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Independence Realty Trust by 12.3% during the third quarter. Franklin Resources Inc. now owns 256,234 shares of the real estate investment trust's stock worth $4,981,000 after purchasing an additional 28,059 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Independence Realty Trust by 38.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust's stock valued at $51,150,000 after purchasing an additional 686,630 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Independence Realty Trust by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,561,615 shares of the real estate investment trust's stock valued at $70,662,000 after purchasing an additional 60,919 shares in the last quarter. Finally, Perigon Wealth Management LLC acquired a new stake in Independence Realty Trust during the 4th quarter worth $222,000. Institutional investors and hedge funds own 88.25% of the company's stock.

Insider Buying and Selling

In related news, CEO Scott Schaeffer sold 10,000 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $21.21, for a total value of $212,100.00. Following the completion of the sale, the chief executive officer now directly owns 873,365 shares of the company's stock, valued at $18,524,071.65. This represents a 1.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 11,000 shares of company stock worth $232,245 in the last ninety days. 0.58% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Barclays increased their price target on Independence Realty Trust from $20.00 to $21.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. JMP Securities reaffirmed a "market outperform" rating and issued a $22.00 target price on shares of Independence Realty Trust in a research note on Tuesday, February 11th. UBS Group started coverage on shares of Independence Realty Trust in a report on Monday, April 7th. They issued a "buy" rating and a $24.00 price objective for the company. Jefferies Financial Group raised shares of Independence Realty Trust from a "hold" rating to a "buy" rating and lifted their target price for the stock from $20.00 to $24.00 in a research note on Monday, March 10th. Finally, Wells Fargo & Company began 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 target for the company. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.33.

Independence Realty Trust Stock Up 2.5 %

NYSE:IRT opened at $19.63 on Friday. Independence Realty Trust, Inc. has a 52 week low of $15.66 and a 52 week high of $22.26. The company has a fifty day simple moving average of $20.08 and a two-hundred day simple moving average of $20.14. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 109.06, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98.

Independence Realty Trust (NYSE:IRT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). The company had revenue of $160.91 million for the quarter, compared to analysts' expectations of $164.08 million. Independence Realty Trust had a return on equity of 1.11% and a net margin of 6.15%. Independence Realty Trust's revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. On average, analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Friday, March 28th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Friday, March 28th. Independence Realty Trust's dividend payout ratio (DPR) is 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.

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