Independence Realty Trust, Inc. (NYSE:IRT) Shares Purchased by Ironsides Asset Advisors LLC

Ironsides Asset Advisors LLC raised its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,070 shares of the real estate investment trust’s stock after acquiring an additional 725 shares during the quarter. Ironsides Asset Advisors LLC’s holdings in Independence Realty Trust were worth $220,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Hilton Capital Management LLC acquired a new stake in Independence Realty Trust during the third quarter valued at approximately $7,573,000. SMART Wealth LLC acquired a new stake in shares of Independence Realty Trust during the 3rd quarter valued at $873,000. Barclays PLC boosted its stake in shares of Independence Realty Trust by 182.3% during the 3rd quarter. Barclays PLC now owns 400,376 shares of the real estate investment trust’s stock worth $8,208,000 after acquiring an additional 258,549 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Independence Realty Trust by 12.3% in the 3rd quarter. Franklin Resources Inc. now owns 256,234 shares of the real estate investment trust’s stock worth $4,981,000 after acquiring an additional 28,059 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Independence Realty Trust by 38.0% during the third quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust’s stock worth $51,150,000 after purchasing an additional 686,630 shares during the period. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

NYSE:IRT opened at $20.97 on Friday. The stock’s 50-day moving average is $19.93 and its two-hundred day moving average is $20.28. The stock has a market cap of $4.84 billion, a PE ratio of 116.49, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19. Independence Realty Trust, Inc. has a fifty-two week low of $15.23 and a fifty-two week high of $22.26.

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, 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%. On average, equities research analysts anticipate that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on IRT shares. JMP Securities reiterated a “market outperform” rating and issued a $22.00 price target on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Barclays decreased their target price on shares of Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Finally, Jefferies Financial Group upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating and boosted their price target for the company from $20.00 to $24.00 in a report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

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.