Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 38.2% in the 4th quarter, Holdings Channel reports. The firm owned 122,716 shares of the real estate investment trust’s stock after purchasing an additional 33,946 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Independence Realty Trust were worth $2,435,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Global Retirement Partners LLC raised its stake 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 worth $26,000 after buying an additional 521 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Independence Realty Trust by 0.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,984 shares of the real estate investment trust’s stock worth $2,050,000 after acquiring an additional 526 shares in the last quarter. Amundi lifted its stake in shares of Independence Realty Trust by 0.5% in the 4th quarter. Amundi now owns 122,544 shares of the real estate investment trust’s stock valued at $2,304,000 after purchasing an additional 597 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Independence Realty Trust by 0.5% during the fourth quarter. State of Alaska Department of Revenue now owns 133,831 shares of the real estate investment trust’s stock valued at $2,654,000 after purchasing an additional 643 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Independence Realty Trust by 33.9% in 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. Institutional investors own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on IRT. Jefferies Financial Group raised Independence Realty Trust from a “hold” rating to a “buy” rating and raised their price objective for the company from $20.00 to $24.00 in a research report on Monday, March 10th. Barclays dropped their price objective on shares of 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 note on Wednesday, March 19th. They set an “overweight” rating and a $24.00 target price for the company. Finally, JMP Securities restated a “market outperform” rating and issued a $22.00 price target on shares of Independence Realty Trust in a research note on Tuesday, February 11th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

Independence Realty Trust Trading Up 1.3 %

IRT stock opened at $21.00 on Tuesday. The stock has a market capitalization of $4.85 billion, a PE ratio of 116.69, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19. The stock’s 50 day simple moving average is $20.19 and its 200 day simple moving average is $20.29. Independence Realty Trust, Inc. has a 12-month low of $15.25 and a 12-month 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 EPS for the quarter, beating 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%. On average, research analysts predict that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, March 28th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.64 annualized dividend and a dividend 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.