Strategic Financial Concepts LLC Purchases Shares of 19,480 Independence Realty Trust, Inc. (NYSE:IRT)

Strategic Financial Concepts LLC acquired a new position in Independence Realty Trust, Inc. (NYSE:IRT) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 19,480 shares of the real estate investment trust’s stock, valued at approximately $386,000.

Other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Independence Realty Trust by 0.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,984 shares of the real estate investment trust’s stock worth $2,050,000 after purchasing an additional 526 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Independence Realty Trust by 0.5% during the fourth quarter. State of Alaska Department of Revenue now owns 133,831 shares of the real estate investment trust’s stock worth $2,654,000 after buying an additional 643 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Independence Realty Trust by 33.9% during the fourth quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 692 shares in the last quarter. Sound Income Strategies LLC raised its stake in shares of Independence Realty Trust by 20.5% in the fourth quarter. Sound Income Strategies LLC now owns 4,295 shares of the real estate investment trust’s stock valued at $85,000 after acquiring an additional 732 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Independence Realty Trust by 0.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 281,800 shares of the real estate investment trust’s stock worth $5,777,000 after acquiring an additional 900 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Down 0.4 %

IRT stock opened at $20.09 on Thursday. Independence Realty Trust, Inc. has a twelve month low of $14.07 and a twelve month high of $22.26. The company has a market cap of $4.52 billion, a P/E ratio of 17.43, a PEG ratio of 2.77 and a beta of 1.21. The business has a fifty day moving average of $19.80 and a 200-day moving average of $20.06.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.24. Independence Realty Trust had a negative return on equity of 0.01% and a negative net margin of 0.03%. As a group, equities research analysts anticipate that Independence Realty Trust, Inc. will post 1.15 earnings per share for the current fiscal year.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.64 dividend on an annualized basis and a yield of 3.19%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and set a $22.00 price target on shares of Independence Realty Trust in a report on Tuesday. BMO Capital Markets upgraded Independence Realty Trust from an “underperform” rating to a “market perform” rating and raised their target price for the company from $19.00 to $21.00 in a research note on Friday, November 15th. Finally, Barclays reduced their price target on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.86.

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.