Victory Capital Management Inc. Reduces Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Victory Capital Management Inc. lessened its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 42.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,498 shares of the real estate investment trust’s stock after selling 30,614 shares during the period. Victory Capital Management Inc.’s holdings in Independence Realty Trust were worth $823,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its holdings in Independence Realty Trust by 236.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,027,943 shares of the real estate investment trust’s stock valued at $82,573,000 after acquiring an additional 2,829,247 shares during the period. Wellington Management Group LLP raised its stake in Independence Realty Trust by 24.4% in the third quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust’s stock worth $232,900,000 after buying an additional 2,225,371 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Independence Realty Trust by 419.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,433,058 shares of the real estate investment trust’s stock worth $29,378,000 after buying an additional 1,157,052 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Independence Realty Trust by 38.0% during 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 purchasing an additional 686,630 shares in the last quarter. Finally, Aew Capital Management L P increased its position in shares of Independence Realty Trust by 23.1% in the 4th quarter. Aew Capital Management L P now owns 2,316,915 shares of the real estate investment trust’s stock valued at $45,968,000 after acquiring an additional 434,290 shares during the period. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on IRT. JMP Securities reaffirmed a “market outperform” rating and issued a $22.00 price target on shares of Independence Realty Trust in a report on Tuesday, February 11th. Barclays cut 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 report on Wednesday, February 19th. Jefferies Financial Group raised shares of Independence Realty Trust from a “hold” rating to a “buy” rating and raised their price target for the company from $20.00 to $24.00 in a research report on Monday, March 10th. Finally, Wells Fargo & Company initiated coverage on shares of Independence Realty Trust in a research report on Wednesday. They issued an “overweight” rating and a $24.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Independence Realty Trust has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Independence Realty Trust Trading Down 0.4 %

IRT stock opened at $20.86 on Friday. The firm’s 50-day moving average is $20.09 and its two-hundred day moving average is $20.29. Independence Realty Trust, Inc. has a 52 week low of $15.25 and a 52 week high of $22.26. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 115.86, a price-to-earnings-growth ratio of 2.91 and a beta of 1.18.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data 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 net margin of 6.15% and a return on equity of 1.11%. On average, equities research analysts predict 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 declared a quarterly dividend, which will be paid on Monday, April 21st. Investors 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 annualized dividend and a yield of 3.07%. Independence Realty Trust’s dividend payout ratio (DPR) is 355.56%.

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.