Corebridge Financial Inc. Has $7.24 Million Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Corebridge Financial Inc. lowered its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 365,087 shares of the real estate investment trust’s stock after selling 19,824 shares during the quarter. Corebridge Financial Inc. owned approximately 0.16% of Independence Realty Trust worth $7,243,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in IRT. Global Retirement Partners LLC lifted its stake in Independence Realty Trust by 66.0% in the 4th 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. increased its holdings in shares of Independence Realty Trust by 627.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 2,008 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Independence Realty Trust by 67.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 1,000 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Independence Realty Trust by 33.9% during the 4th 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 in the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in Independence Realty Trust during the 3rd quarter worth $64,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IRT has been the topic of a number of recent research reports. Barclays cut their price target 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 initiated coverage on shares of Independence Realty Trust in a research report on Wednesday, March 19th. They set an “overweight” rating and a $24.00 target price on the stock. 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 note on Monday, March 10th. Finally, JMP Securities reiterated a “market outperform” rating and set a $22.00 price target 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.00.

Independence Realty Trust Stock Down 0.6 %

IRT opened at $20.85 on Friday. Independence Realty Trust, Inc. has a twelve month low of $15.25 and a twelve month high of $22.26. The company has a fifty day moving average of $20.35 and a 200-day moving average of $20.32. The stock has a market cap of $4.81 billion, a PE ratio of 115.81, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping 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%. Sell-side analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Announces Dividend

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

Independence Realty Trust 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.