Independence Realty Trust, Inc. (NYSE:IRT) Shares Purchased by Keybank National Association OH

Keybank National Association OH boosted its position in Independence Realty Trust, Inc. (NYSE:IRT) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,606 shares of the real estate investment trust’s stock after acquiring an additional 1,122 shares during the quarter. Keybank National Association OH’s holdings in Independence Realty Trust were worth $687,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hilton Capital Management LLC acquired a new position in Independence Realty Trust in the third quarter valued at $7,573,000. SMART Wealth LLC acquired a new position in Independence Realty Trust in the third quarter valued at $873,000. Barclays PLC boosted its holdings in Independence Realty Trust by 182.3% in the third quarter. Barclays PLC now owns 400,376 shares of the real estate investment trust’s stock valued at $8,208,000 after acquiring an additional 258,549 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Independence Realty Trust by 12.3% in the third quarter. Franklin Resources Inc. now owns 256,234 shares of the real estate investment trust’s stock valued at $4,981,000 after acquiring an additional 28,059 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Independence Realty Trust by 38.0% in the third quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust’s stock valued at $51,150,000 after acquiring an additional 686,630 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Independence Realty Trust Stock Performance

Shares of NYSE IRT opened at $20.99 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 cap of $4.85 billion, a price-to-earnings ratio of 116.62, a PEG ratio of 2.91 and a beta of 1.18. The stock’s 50-day simple moving average is $19.84 and its 200-day simple moving average is $20.25.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (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%. As a group, research analysts predict that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders 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 dividend yield of 3.05%. The ex-dividend date of this dividend was Tuesday, December 31st. Independence Realty Trust’s payout ratio 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.