Xponance Inc. Raises Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Xponance Inc. increased its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,954 shares of the real estate investment trust’s stock after acquiring an additional 1,424 shares during the quarter. Xponance Inc.’s holdings in Independence Realty Trust were worth $634,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. SMART Wealth LLC bought a new stake in shares of Independence Realty Trust during the 3rd quarter worth $873,000. Barclays PLC increased its holdings in Independence Realty Trust by 182.3% during the third quarter. Barclays PLC now owns 400,376 shares of the real estate investment trust’s stock worth $8,208,000 after buying an additional 258,549 shares during the last quarter. Franklin Resources Inc. raised its position in Independence Realty Trust by 12.3% in the third quarter. Franklin Resources Inc. now owns 256,234 shares of the real estate investment trust’s stock worth $4,981,000 after acquiring an additional 28,059 shares during the period. JPMorgan Chase & Co. raised its position in 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 worth $51,150,000 after acquiring an additional 686,630 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Independence Realty Trust in the third quarter valued at about $1,594,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on IRT shares. Jefferies Financial Group raised shares of Independence Realty Trust from a “hold” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $24.00 in a report on Monday, March 10th. Barclays lowered their target price on 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. Wells Fargo & Company began coverage on Independence Realty Trust in a research note on Wednesday, March 19th. They set an “overweight” rating and a $24.00 price target for the company. Finally, JMP Securities restated a “market outperform” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a research note on Tuesday, February 11th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Independence Realty Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Independence Realty Trust Stock Down 0.1 %

Shares of NYSE IRT opened at $20.99 on Wednesday. The company has a market cap of $4.85 billion, a P/E ratio of 116.61, a P/E/G ratio of 2.91 and a beta of 1.19. Independence Realty Trust, Inc. has a 52 week low of $15.25 and a 52 week high of $22.26. The business has a 50-day simple moving average of $20.23 and a two-hundred day simple moving average of $20.30.

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 analysts’ consensus estimates of $0.08 by $0.24. Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.11%. Equities research analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, March 28th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.05%. Independence Realty Trust’s dividend payout ratio (DPR) is currently 355.56%.

About Independence Realty Trust

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.