Independence Realty Trust, Inc. (NYSE:IRT) Stock Position Lifted by Ironsides Asset Advisors LLC

Ironsides Asset Advisors LLC lifted its position in Independence Realty Trust, Inc. (NYSE:IRT) by 7.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,070 shares of the real estate investment trust’s stock after acquiring an additional 725 shares during the quarter. Ironsides Asset Advisors LLC’s holdings in Independence Realty Trust were worth $220,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC increased its stake in 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 last quarter. Assetmark Inc. bought a new stake in shares of Independence Realty Trust during the 3rd quarter valued at about $41,000. SRS Capital Advisors Inc. raised its stake in 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 worth $46,000 after acquiring an additional 2,008 shares during the period. Jones Financial Companies Lllp raised its stake in 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 worth $49,000 after acquiring an additional 1,000 shares during the period. Finally, Blue Trust Inc. lifted its holdings 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 worth $56,000 after acquiring an additional 692 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IRT. 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. Barclays lowered their price objective on Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group raised shares of Independence Realty Trust from a “hold” rating to a “buy” rating and boosted their price target for the company from $20.00 to $24.00 in a report on Monday, March 10th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

Independence Realty Trust Stock Performance

Shares of IRT stock opened at $20.97 on Friday. Independence Realty Trust, Inc. has a 1 year low of $15.23 and a 1 year high of $22.26. The firm has a market capitalization of $4.84 billion, a PE ratio of 116.49, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19. The stock has a fifty day moving average of $19.93 and a two-hundred day moving average of $20.28.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.24. Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.11%. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Friday, March 28th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.05%. Independence Realty Trust’s dividend payout ratio is presently 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.