Xponance Inc. Acquires 1,424 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Xponance Inc. lifted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 4.7% in the 4th quarter, Holdings Channel reports. The firm owned 31,954 shares of the real estate investment trust’s stock after acquiring an additional 1,424 shares during the period. Xponance Inc.’s holdings in Independence Realty Trust were worth $634,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IRT. Global Retirement Partners LLC lifted its position in Independence Realty Trust by 66.0% during 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 during 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 lifted its holdings in shares of Independence Realty Trust by 67.1% during the 4th 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 during the last quarter. Blue Trust Inc. grew its position 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 worth $56,000 after acquiring an additional 692 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in Independence Realty Trust in the third quarter valued at $64,000. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Stock Performance

NYSE:IRT opened at $20.99 on Wednesday. Independence Realty Trust, Inc. has a fifty-two week low of $15.25 and a fifty-two week high of $22.26. The firm has a market cap of $4.85 billion, a PE ratio of 116.61, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19. The business has a 50 day moving average price of $20.23 and a 200-day moving average price 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 for the quarter, beating the consensus estimate of $0.08 by $0.24. Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.11%. Research analysts predict that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on IRT. Wells Fargo & Company assumed 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. Barclays cut their target price on 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. Jefferies Financial Group upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating and increased their price target for the company from $20.00 to $24.00 in a research report on Monday, March 10th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

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.