Independence Realty Trust, Inc. (NYSE:IRT) Position Lifted by HM Payson & Co.

HM Payson & Co. raised its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 119.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,978 shares of the real estate investment trust’s stock after acquiring an additional 2,168 shares during the quarter. HM Payson & Co.’s holdings in Independence Realty Trust were worth $79,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in IRT. Global Retirement Partners LLC boosted its stake in Independence Realty Trust by 66.0% during 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 acquiring an additional 521 shares during the last quarter. Assetmark Inc. bought a new position in Independence Realty Trust during the 3rd quarter valued at $41,000. SRS Capital Advisors Inc. boosted its stake in 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 valued at $46,000 after acquiring an additional 2,008 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Independence Realty Trust by 67.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 1,000 shares during the period. Finally, Blue Trust Inc. raised 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 purchasing an additional 692 shares during the period. 88.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IRT has been the topic of a number of research reports. JMP Securities reissued a “market outperform” rating and set a $22.00 target price on shares of Independence Realty Trust in a report on Tuesday, February 11th. Barclays dropped their target price on shares of 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. Finally, BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $19.00 to $21.00 in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.33.

Independence Realty Trust Stock Up 0.2 %

IRT stock opened at $20.99 on Monday. Independence Realty Trust, Inc. has a fifty-two week low of $15.23 and a fifty-two week high of $22.26. The firm’s 50-day simple moving average is $19.84 and its 200 day simple moving average is $20.25. The stock has a market cap of $4.85 billion, a PE ratio of 116.62, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data 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 net margin of 6.15% and a return on equity of 1.11%. Equities analysts forecast that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.64 annualized dividend and a yield of 3.05%. Independence Realty Trust’s payout ratio is 355.56%.

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.