Signaturefd LLC Raises Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Signaturefd LLC raised its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 6.6% in the 4th quarter, Holdings Channel reports. The firm owned 19,114 shares of the real estate investment trust’s stock after acquiring an additional 1,189 shares during the period. Signaturefd LLC’s holdings in Independence Realty Trust were worth $379,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Independence Realty Trust by 236.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,027,943 shares of the real estate investment trust’s stock valued at $82,573,000 after acquiring an additional 2,829,247 shares during the last quarter. Wellington Management Group LLP lifted its stake in Independence Realty Trust by 24.4% in the third quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust’s stock worth $232,900,000 after purchasing an additional 2,225,371 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Independence Realty Trust by 419.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,433,058 shares of the real estate investment trust’s stock worth $29,378,000 after purchasing an additional 1,157,052 shares during the last quarter. JPMorgan Chase & Co. lifted its stake 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 worth $51,150,000 after purchasing an additional 686,630 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Independence Realty Trust in the fourth quarter worth about $12,105,000. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Down 0.4 %

Shares of IRT stock opened at $20.86 on Friday. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 115.86, a PEG ratio of 2.91 and a beta of 1.18. The company’s 50 day moving average is $20.09 and its 200 day moving average is $20.29. Independence Realty Trust, Inc. has a 52-week low of $15.25 and a 52-week high of $22.26.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, March 28th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Friday, March 28th. Independence Realty Trust’s dividend payout ratio is currently 355.56%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Jefferies Financial Group raised shares of 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 note on Monday, March 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a research note on Tuesday, February 11th. Wells Fargo & Company started coverage on shares of Independence Realty Trust in a report on Wednesday. They set an “overweight” rating and a $24.00 target price on the stock. Finally, Barclays reduced their price target on shares of Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.