25,086 Shares in Independence Realty Trust, Inc. (NYSE:IRT) Acquired by Global Assets Advisory LLC

Global Assets Advisory LLC purchased a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) during the 1st quarter, Holdings Channel.com reports. The fund purchased 25,086 shares of the real estate investment trust’s stock, valued at approximately $405,000.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in shares of Independence Realty Trust in the 4th quarter worth about $52,048,000. Waterfront Capital Partners LLC increased its position in shares of Independence Realty Trust by 895.1% during the fourth quarter. Waterfront Capital Partners LLC now owns 1,988,154 shares of the real estate investment trust’s stock worth $30,419,000 after purchasing an additional 1,788,354 shares in the last quarter. Centersquare Investment Management LLC lifted its holdings in shares of Independence Realty Trust by 164.5% during the 4th quarter. Centersquare Investment Management LLC now owns 2,205,569 shares of the real estate investment trust’s stock valued at $33,745,000 after purchasing an additional 1,371,851 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Independence Realty Trust by 29.5% during the fourth quarter. Jennison Associates LLC now owns 4,129,313 shares of the real estate investment trust’s stock worth $63,178,000 after acquiring an additional 941,676 shares during the last quarter. Finally, Peregrine Capital Management LLC purchased a new position in shares of Independence Realty Trust in the 4th quarter valued at approximately $7,728,000. 88.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on IRT shares. TheStreet downgraded shares of Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. JMP Securities raised their price objective 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. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.00.

Independence Realty Trust Stock Performance

Independence Realty Trust stock opened at $18.46 on Friday. The stock’s 50 day moving average price is $16.89 and its 200 day moving average price is $15.91. The firm has a market capitalization of $4.15 billion, a PE ratio of -615.13, a price-to-earnings-growth ratio of 2.67 and a beta of 1.12. Independence Realty Trust, Inc. has a one year low of $11.61 and a one year high of $18.56.

Independence Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 28th will be paid a $0.16 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.64 annualized dividend and a dividend yield of 3.47%. Independence Realty Trust’s payout ratio is currently -2,132.62%.

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.