Independence Realty Trust, Inc. (NYSE:IRT) Position Increased by Aew Capital Management L P

Aew Capital Management L P increased its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 23.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,316,915 shares of the real estate investment trust’s stock after acquiring an additional 434,290 shares during the period. Independence Realty Trust comprises approximately 2.2% of Aew Capital Management L P’s portfolio, making the stock its 15th biggest holding. Aew Capital Management L P owned about 1.03% of Independence Realty Trust worth $45,968,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC raised its holdings in shares of 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 worth $26,000 after acquiring an additional 521 shares in the last quarter. Blue Trust Inc. raised its holdings in Independence Realty Trust by 295.9% during the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 1,527 shares in the last quarter. Assetmark Inc. bought a new position in Independence Realty Trust during the third quarter valued at about $41,000. Avior Wealth Management LLC raised its holdings in Independence Realty Trust by 437.8% during the third quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 2,443 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in Independence Realty Trust during the third quarter valued at about $64,000. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IRT has been the topic of several recent research reports. BMO Capital Markets upgraded Independence Realty Trust from an “underperform” rating to a “market perform” rating and raised their target price for the company from $19.00 to $21.00 in a report on Friday, November 15th. Barclays cut their target price on Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Finally, JMP Securities restated a “market outperform” rating and set a $22.00 target price on shares of Independence Realty Trust in a report on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.33.

Independence Realty Trust Stock Performance

Independence Realty Trust stock opened at $21.77 on Friday. The business’s 50-day simple moving average is $19.73 and its 200-day simple moving average is $20.19. The firm has a market capitalization of $5.03 billion, a PE ratio of 120.94, a PEG ratio of 2.91 and a beta of 1.21. Independence Realty Trust, Inc. has a 52 week low of $14.55 and a 52 week high of $22.26.

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

Independence Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date was Tuesday, December 31st. Independence Realty Trust’s dividend payout ratio (DPR) 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.