Swiss National Bank Has $9.02 Million Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Swiss National Bank grew its position in shares of 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 institutional investor owned 454,400 shares of the real estate investment trust’s stock after purchasing an additional 15,000 shares during the quarter. Swiss National Bank’s holdings in Independence Realty Trust were worth $9,015,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Global Retirement Partners LLC boosted its stake 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 valued at $26,000 after purchasing an additional 521 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of 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 valued at $46,000 after purchasing an additional 2,008 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of 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 valued at $49,000 after purchasing an additional 1,000 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Independence Realty Trust by 33.9% during the fourth quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 692 shares in the last quarter. Finally, Avior Wealth Management LLC raised its position in shares of 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 worth $62,000 after acquiring an additional 2,443 shares during the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Stock Performance

Shares of IRT stock opened at $20.74 on Friday. The company has a market cap of $4.79 billion, a P/E ratio of 115.19, a PEG ratio of 2.91 and a beta of 1.18. The stock has a 50 day simple moving average of $20.14 and a two-hundred day simple moving average of $20.29. Independence Realty Trust, Inc. has a fifty-two week low of $15.25 and a fifty-two week high of $22.26.

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

Independence Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, March 28th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a yield of 3.09%. Independence Realty Trust’s dividend payout ratio (DPR) is presently 355.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on IRT shares. JMP Securities restated a “market outperform” rating and set a $22.00 price objective on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Jefferies Financial Group upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and raised their price objective for the stock from $20.00 to $24.00 in a research report on Monday, March 10th. 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 report on Wednesday, February 19th. Finally, Wells Fargo & Company started coverage on Independence Realty Trust in a research report on Wednesday. They set an “overweight” rating and a $24.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.00.

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.