Sei Investments Co. Purchases 174,429 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Sei Investments Co. grew its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 25.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 863,454 shares of the real estate investment trust’s stock after buying an additional 174,429 shares during the period. Sei Investments Co. owned approximately 0.38% of Independence Realty Trust worth $17,131,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP increased its position in Independence Realty Trust by 24.4% during 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 acquiring an additional 2,225,371 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Independence Realty Trust by 419.2% during 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 period. JPMorgan Chase & Co. raised its position in shares of 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 buying an additional 686,630 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Independence Realty Trust in the fourth quarter valued at approximately $12,105,000. Finally, Aew Capital Management L P boosted its stake in shares of Independence Realty Trust by 23.1% in the fourth quarter. Aew Capital Management L P now owns 2,316,915 shares of the real estate investment trust’s stock valued at $45,968,000 after buying an additional 434,290 shares during the period. Institutional investors and hedge funds own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

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

Independence Realty Trust Trading Up 0.1 %

Shares of NYSE IRT opened at $20.98 on Friday. The company has a market cap of $4.84 billion, a price-to-earnings ratio of 116.53, 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. The stock has a 50-day moving average price of $20.31 and a two-hundred day moving average price of $20.31.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 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%. On average, sell-side 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. Investors of record on Friday, March 28th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a yield of 3.05%. Independence Realty Trust’s dividend payout ratio is currently 355.56%.

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.