Fox Run Management L.L.C. Purchases New Shares in Independence Realty Trust, Inc. (NYSE:IRT)

Fox Run Management L.L.C. purchased a new stake in Independence Realty Trust, Inc. (NYSE:IRT) during the 4th quarter, HoldingsChannel reports. The firm purchased 58,239 shares of the real estate investment trust’s stock, valued at approximately $1,155,000.

Other large investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its holdings in Independence Realty Trust by 66.0% in the fourth 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 in the last quarter. SRS Capital Advisors Inc. boosted its holdings in Independence Realty Trust by 627.5% in the fourth 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 in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Independence Realty Trust by 67.1% during 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 buying an additional 1,000 shares in 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 buying an additional 692 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in shares of Independence Realty Trust by 437.8% during the 3rd quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 2,443 shares in the last quarter. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

IRT opened at $20.74 on Friday. The stock has a 50-day moving average price of $20.14 and a 200-day moving average price of $20.29. The firm has a market cap of $4.79 billion, a PE ratio of 115.19, a P/E/G ratio of 2.91 and a beta of 1.18. Independence Realty Trust, Inc. has a 1 year low of $15.25 and a 1 year high of $22.26.

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

Independence Realty Trust Dividend Announcement

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 given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Friday, March 28th. Independence Realty Trust’s dividend payout ratio (DPR) is 355.56%.

Analysts Set New Price Targets

A number of analysts have recently commented on IRT shares. Jefferies Financial Group upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating and boosted their target price for the company from $20.00 to $24.00 in a report on Monday, March 10th. JMP Securities restated a “market outperform” rating and set a $22.00 target price on shares of Independence Realty Trust in a report on Tuesday, February 11th. Wells Fargo & Company started coverage on shares of Independence Realty Trust in a report on Wednesday. They set an “overweight” rating and a $24.00 target price on the stock. Finally, 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.00.

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.