Independence Realty Trust, Inc. (NYSE:IRT) Shares Acquired by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. increased its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 627.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,328 shares of the real estate investment trust’s stock after buying an additional 2,008 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Independence Realty Trust were worth $46,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC grew its holdings in shares of 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 worth $26,000 after buying an additional 521 shares during the last quarter. Assetmark Inc. purchased a new position in shares of Independence Realty Trust during the third quarter worth about $41,000. Blue Trust Inc. grew 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 during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Independence Realty Trust by 437.8% during the third quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 2,443 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of Independence Realty Trust during the third quarter worth about $64,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Wall Street Analysts Forecast Growth

IRT has been the topic of a number of research reports. BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $19.00 to $21.00 in a report on Friday, November 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday, February 11th. Finally, Barclays lowered their price objective on Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Independence Realty Trust presently has an average rating of “Moderate Buy” and a consensus price target of $21.33.

Independence Realty Trust Trading Up 0.2 %

Shares of IRT opened at $20.99 on Friday. Independence Realty Trust, Inc. has a twelve month low of $15.23 and a twelve month high of $22.26. The stock’s 50 day moving average is $19.84 and its two-hundred day moving average is $20.25. The firm has a market capitalization of $4.85 billion, a PE ratio of 116.62, a P/E/G ratio of 2.91 and a beta of 1.18.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate of $0.08 by $0.24. Independence Realty Trust had a return on equity of 1.11% and a net margin of 6.15%. On average, sell-side analysts predict 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 was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Tuesday, December 31st. 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.