Swiss National Bank Acquires 15,000 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Swiss National Bank boosted its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 454,400 shares of the real estate investment trust’s stock after acquiring an additional 15,000 shares during the period. Swiss National Bank owned 0.20% of Independence Realty Trust worth $9,015,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in IRT. Global Retirement Partners LLC increased its position 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 worth $26,000 after buying an additional 521 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Independence Realty Trust by 0.5% during 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 buying an additional 526 shares during the period. Amundi increased its position in Independence Realty Trust by 0.5% during the 4th quarter. Amundi now owns 122,544 shares of the real estate investment trust’s stock worth $2,304,000 after buying an additional 597 shares during the period. State of Alaska Department of Revenue increased its position in Independence Realty Trust by 0.5% during the 4th quarter. State of Alaska Department of Revenue now owns 133,831 shares of the real estate investment trust’s stock worth $2,654,000 after buying an additional 643 shares during the period. Finally, Blue Trust Inc. increased its position in 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 worth $56,000 after buying an additional 692 shares during the period. Institutional investors own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IRT. JMP Securities reiterated a “market outperform” rating and set a $22.00 price objective on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Wells Fargo & Company started coverage on Independence Realty Trust in a research report on Wednesday. They set an “overweight” rating and a $24.00 price objective on the stock. Jefferies Financial Group raised Independence Realty Trust from a “hold” rating to a “buy” rating and increased their target price for the stock from $20.00 to $24.00 in a report on Monday, March 10th. Finally, Barclays reduced their target price on 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 analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Independence Realty Trust Stock Down 0.6 %

NYSE:IRT opened at $20.74 on Friday. The stock’s 50-day simple moving average is $20.14 and its 200 day simple moving average is $20.29. The firm has a market capitalization of $4.79 billion, a PE ratio of 115.19, a price-to-earnings-growth ratio of 2.91 and a beta of 1.18. Independence Realty Trust, Inc. has a twelve month low of $15.25 and a twelve 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 earnings per share 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, analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Friday, March 28th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.09%. The ex-dividend date is Friday, March 28th. Independence Realty Trust’s dividend payout ratio (DPR) is presently 355.56%.

Independence Realty Trust 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.