Independence Realty Trust, Inc. (NYSE:IRT) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,438 shares of the real estate investment trust’s stock after acquiring an additional 1,232 shares during the quarter. Retirement Systems of Alabama owned 0.13% of Independence Realty Trust worth $4,306,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Commonwealth Equity Services LLC increased its stake in shares of Independence Realty Trust by 1.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 166,731 shares of the real estate investment trust’s stock worth $2,346,000 after purchasing an additional 2,947 shares in the last quarter. Strs Ohio raised its holdings in shares of Independence Realty Trust by 2.8% in the third quarter. Strs Ohio now owns 302,385 shares of the real estate investment trust’s stock worth $4,254,000 after acquiring an additional 8,100 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Independence Realty Trust by 6.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 131,254 shares of the real estate investment trust’s stock valued at $1,847,000 after acquiring an additional 8,082 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of Independence Realty Trust by 24.1% during the third quarter. Inspire Investing LLC now owns 21,849 shares of the real estate investment trust’s stock valued at $307,000 after acquiring an additional 4,250 shares during the last quarter. Finally, LDR Capital Management LLC boosted its stake in shares of Independence Realty Trust by 10.1% during the third quarter. LDR Capital Management LLC now owns 67,863 shares of the real estate investment trust’s stock valued at $955,000 after acquiring an additional 6,204 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Wall Street Analyst Weigh In

IRT has been the subject of several analyst reports. TheStreet downgraded Independence Realty Trust from a “c” rating to a “d+” rating in a report on Friday, March 1st. Deutsche Bank Aktiengesellschaft began coverage on Independence Realty Trust in a research note on Tuesday, January 30th. They issued a “buy” rating and a $18.00 price target on the stock. JMP Securities lifted their price target on Independence Realty Trust from $15.00 to $17.00 and gave the company a “market outperform” rating in a report on Wednesday, March 6th. Royal Bank of Canada increased their price objective on shares of Independence Realty Trust from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Finally, Barclays decreased their target price on shares of Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.00.

Independence Realty Trust Stock Performance

IRT opened at $16.55 on Tuesday. The company’s 50 day simple moving average is $15.77 and its 200 day simple moving average is $14.89. Independence Realty Trust, Inc. has a 1 year low of $11.61 and a 1 year high of $18.77. The stock has a market capitalization of $3.73 billion, a PE ratio of -551.48, a P/E/G ratio of 2.39 and a beta of 1.07.

Independence Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, March 29th were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.64 dividend on an annualized basis and a yield of 3.87%. Independence Realty Trust’s dividend payout ratio (DPR) is -2,132.62%.

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.