Vanguard Group Inc. Trims Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Vanguard Group Inc. lowered its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 32,251,764 shares of the real estate investment trust’s stock after selling 270,884 shares during the quarter. Vanguard Group Inc. owned 0.14% of Independence Realty Trust worth $639,875,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Global Retirement Partners LLC raised its stake in Independence Realty Trust by 66.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 521 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of 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 grew its position in Independence Realty Trust by 67.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 1,000 shares in the last quarter. Blue Trust Inc. increased its stake in Independence Realty Trust by 33.9% in the fourth quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 692 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new position in Independence Realty Trust in the third quarter valued at $64,000. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

NYSE IRT opened at $20.85 on Monday. Independence Realty Trust, Inc. has a 1 year low of $15.25 and a 1 year high of $22.26. The stock has a market capitalization of $4.81 billion, a PE ratio of 115.81, a PEG ratio of 2.91 and a beta of 1.19. The business’s 50-day moving average is $20.35 and its 200 day moving average is $20.32.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.24. Independence Realty Trust had a return on equity of 1.11% and a net margin of 6.15%. As a group, equities research analysts anticipate that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, March 28th will be given a $0.16 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.64 annualized dividend and a dividend yield of 3.07%. Independence Realty Trust’s dividend payout ratio is 355.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IRT shares. JMP Securities restated a “market outperform” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday, February 11th. Barclays lowered their price target on shares of Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company assumed coverage on Independence Realty Trust in a report on Wednesday, March 19th. They issued an “overweight” rating and a $24.00 price objective on the stock. Finally, Jefferies Financial Group upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and increased their target price for the company from $20.00 to $24.00 in a report on Monday, March 10th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Independence Realty Trust has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

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.