United Services Automobile Association Has $275,000 Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

United Services Automobile Association decreased its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,859 shares of the real estate investment trust’s stock after selling 930 shares during the period. United Services Automobile Association’s holdings in Independence Realty Trust were worth $275,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in IRT. Global Retirement Partners LLC lifted its position 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 purchasing an additional 521 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in Independence Realty Trust by 627.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 2,008 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Independence Realty Trust by 67.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 1,000 shares during the period. Blue Trust Inc. raised its position 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 worth $56,000 after acquiring an additional 692 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake 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 valued at $62,000 after acquiring an additional 2,443 shares during the period. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Trading Up 1.3 %

Shares of Independence Realty Trust stock opened at $21.00 on Tuesday. The stock’s fifty day simple moving average is $20.19 and its 200 day simple moving average is $20.29. The company has a market capitalization of $4.85 billion, a PE ratio of 116.69, a PEG ratio of 2.91 and a beta of 1.19. Independence Realty Trust, Inc. has a 12 month low of $15.25 and a 12 month high of $22.26.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings results 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%. Analysts predict that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, March 28th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, March 28th. Independence Realty Trust’s dividend payout ratio (DPR) is presently 355.56%.

Analyst Ratings Changes

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