Deutsche Bank AG Has $103.54 Million Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Deutsche Bank AG lifted its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 44.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,876,816 shares of the real estate investment trust’s stock after purchasing an additional 1,495,132 shares during the period. Deutsche Bank AG owned 2.09% of Independence Realty Trust worth $103,535,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. D. E. Shaw & Co. Inc. bought a new position in Independence Realty Trust in the fourth quarter valued at approximately $1,781,000. Principal Financial Group Inc. boosted its position in shares of Independence Realty Trust by 3.5% during the first quarter. Principal Financial Group Inc. now owns 747,252 shares of the real estate investment trust’s stock worth $15,864,000 after purchasing an additional 25,124 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Independence Realty Trust by 889.9% during the first quarter. Victory Capital Management Inc. now owns 410,801 shares of the real estate investment trust’s stock worth $8,721,000 after acquiring an additional 369,303 shares during the period. GAMMA Investing LLC raised its holdings in shares of Independence Realty Trust by 1,991.6% during the first quarter. GAMMA Investing LLC now owns 36,749 shares of the real estate investment trust’s stock worth $7,800,000 after acquiring an additional 34,992 shares during the period. Finally, IFP Advisors Inc raised its holdings in shares of Independence Realty Trust by 111.7% during the first quarter. IFP Advisors Inc now owns 6,862 shares of the real estate investment trust’s stock worth $146,000 after acquiring an additional 3,620 shares during the period. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Trading Down 1.0%

Shares of Independence Realty Trust stock opened at $17.23 on Friday. The company has a market cap of $4.03 billion, a PE ratio of 143.58, a price-to-earnings-growth ratio of 2.37 and a beta of 0.94. The company has a 50 day moving average of $17.64 and a 200-day moving average of $19.03. Independence Realty Trust, Inc. has a 1-year low of $16.59 and a 1-year high of $22.26.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28. Independence Realty Trust had a net margin of 4.31% and a return on equity of 0.78%. The business had revenue of $161.89 million during the quarter, compared to the consensus estimate of $164.78 million. During the same quarter in the prior year, the firm earned $0.28 EPS. Research analysts forecast that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Friday, June 27th were given a $0.17 dividend. This is an increase from Independence Realty Trust’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, June 27th. This represents a $0.68 annualized dividend and a yield of 3.9%. Independence Realty Trust’s dividend payout ratio is currently 566.67%.

Analysts Set New Price Targets

IRT has been the topic of several recent research reports. UBS Group lowered their price target on shares of Independence Realty Trust from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, July 15th. Barclays boosted their price objective on shares of Independence Realty Trust from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. Compass Point raised shares of Independence Realty Trust from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $22.00 to $24.00 in a report on Thursday, July 31st. Wall Street Zen raised shares of Independence Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday. Finally, JMP Securities reissued a “market outperform” rating and issued a $25.00 price objective on shares of Independence Realty Trust in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Independence Realty Trust has a consensus rating of “Moderate Buy” and a consensus price target of $22.60.

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.