Barclays PLC Purchases 137,388 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Barclays PLC increased its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 34.3% in the fourth quarter, HoldingsChannel reports. The firm owned 537,764 shares of the real estate investment trust’s stock after purchasing an additional 137,388 shares during the period. Barclays PLC’s holdings in Independence Realty Trust were worth $10,670,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in IRT. Global Retirement Partners LLC increased its holdings 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 buying an additional 521 shares in the last quarter. SRS Capital Advisors Inc. grew its position in Independence Realty Trust by 627.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 2,008 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Independence Realty Trust by 67.1% during 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 purchasing an additional 1,000 shares in the last quarter. Blue Trust Inc. raised its position in Independence Realty Trust by 33.9% in the 4th 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 during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in Independence Realty Trust in the fourth quarter worth $70,000. 88.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on IRT. JMP Securities restated a “market outperform” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a research report on Tuesday, February 11th. UBS Group started coverage on Independence Realty Trust in a research note on Monday, April 7th. They issued a “buy” rating and a $24.00 target price for the company. Wells Fargo & Company assumed coverage on Independence Realty Trust in a research report on Wednesday, March 19th. They set an “overweight” rating and a $24.00 target price for the company. Jefferies Financial Group upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and raised their price target for the company from $20.00 to $24.00 in a report on Monday, March 10th. Finally, Barclays boosted their price objective on Independence Realty Trust from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, April 11th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.33.

Insider Buying and Selling

In other news, CEO Scott Schaeffer sold 10,000 shares of Independence Realty Trust stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $21.21, for a total value of $212,100.00. Following the sale, the chief executive officer now directly owns 873,365 shares in the company, valued at $18,524,071.65. This trade represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.58% of the company’s stock.

Independence Realty Trust Stock Up 2.7 %

Shares of NYSE IRT opened at $19.42 on Wednesday. Independence Realty Trust, Inc. has a twelve month low of $15.27 and a twelve month high of $22.26. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 107.89, a P/E/G ratio of 2.91 and a beta of 0.98. The company’s fifty day moving average is $20.27 and its 200-day moving average is $20.13.

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

Independence Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Friday, March 28th were given a $0.16 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.64 annualized dividend and a yield of 3.30%. Independence Realty Trust’s dividend payout ratio is currently 355.56%.

Independence Realty Trust Company 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.