Prime Capital Investment Advisors LLC grew its holdings in Independence Realty Trust, Inc. (NYSE: IRT – Get Rating ) by 52.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 140,273 shares of the real estate investment trust’s stock after buying an additional 48,188 shares during the quarter. Prime Capital Investment Advisors LLC owned about 0.06% of Independence Realty Trust worth $2,365,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in IRT. Thrivent Financial for Lutherans boosted its holdings in Independence Realty Trust by 19.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 2,394,592 shares of the real estate investment trust’s stock valued at $40,372,000 after purchasing an additional 385,785 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Independence Realty Trust by 7.4% in the 4th quarter. Van ECK Associates Corp now owns 65,723 shares of the real estate investment trust’s stock valued at $1,108,000 after purchasing an additional 4,547 shares during the last quarter. Swiss National Bank boosted its holdings in Independence Realty Trust by 2.3% during the fourth quarter. Swiss National Bank now owns 536,200 shares of the real estate investment trust’s stock valued at $9,040,000 after acquiring an additional 11,800 shares during the last quarter. Arizona State Retirement System boosted its holdings in Independence Realty Trust by 4.3% in the fourth quarter. Arizona State Retirement System now owns 62,662 shares of the real estate investment trust’s stock valued at $1,056,000 after acquiring an additional 2,562 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Independence Realty Trust in the 4th quarter valued at about $227,000. 81.01% of the shares are owned by institutional investors and hedge funds.
Independence Realty Trust Trading up 2.3%
NYSE IRT opened at $16.94 on Monday. The company’s 50-day moving average is $16.35 and its 200-day moving average is $17.16. The stock has a market cap of $3.80 billion, a PE ratio of 73.66, a PEG ratio of 7.30 and a beta of 1.00. Independence Realty Trust, Inc. has a 12-month low of $14.55 and a 12-month high of $24.17.
Independence Realty Trust declares a dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 21st. Shareholders of record on Friday, March 31st were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, March 30th. This represents an annualized dividend of $0.56 and a dividend yield of 3.31%. Independence Realty Trust’s payout ratio is 243.49%.
Changes in analyst ratings
A number of equities analysts recently commented on IRT shares. Barclays upped their target price on Independence Realty Trust from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, March 1st. BTIG Research cut their target price on Independence Realty Trust from $27.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, January 11th. Citigroup boosted their price objective on shares of Independence Realty Trust from $18.50 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, February 23rd. TheStreet downgraded shares of Independence Realty Trust from a “b-” rating to a “c” rating in a report on Wednesday, April 26th. Finally, JMP Securities raised shares of Independence Realty Trust from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Independence Realty Trust has a consensus rating of “Hold” and an average price target of $20.72, according to MarketBeat.com .
Independence Realty Trust Company Profile
(Get Rating)
Independence Realty Trust, Inc is a real estate investment trust that acquires, owns, operates, improves and manages multifamily apartment communities in non-US markets. It aims to provide shareholders with risk-adjusted returns through diligent portfolio management, operating performance and consistent capital returns through distributions and capital appreciation.
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