Sei Investments Co. Has $17.13 Million Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Sei Investments Co. grew its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 25.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 863,454 shares of the real estate investment trust’s stock after purchasing an additional 174,429 shares during the quarter. Sei Investments Co.’s holdings in Independence Realty Trust were worth $17,131,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in Independence Realty Trust by 24.4% in the third quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust’s stock valued at $232,900,000 after buying an additional 2,225,371 shares during the period. Jennison Associates LLC lifted its stake in shares of Independence Realty Trust by 4.8% in the 4th quarter. Jennison Associates LLC now owns 6,139,652 shares of the real estate investment trust’s stock valued at $121,811,000 after purchasing an additional 278,959 shares during the period. Geode Capital Management LLC boosted its position in shares of Independence Realty Trust by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,857,943 shares of the real estate investment trust’s stock valued at $120,108,000 after purchasing an additional 50,788 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Independence Realty Trust by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,561,615 shares of the real estate investment trust’s stock worth $70,662,000 after purchasing an additional 60,919 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in 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 and hedge funds own 88.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Jefferies Financial Group upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and increased their price target for the stock from $20.00 to $24.00 in a report on Monday, March 10th. Wells Fargo & Company started coverage on shares of Independence Realty Trust in a report on Wednesday, March 19th. They issued an “overweight” rating and a $24.00 price target for the company. JMP Securities reiterated a “market outperform” rating and set a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday, February 11th. Finally, Barclays reduced their target price on Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Independence Realty Trust Price Performance

IRT opened at $20.98 on Friday. Independence Realty Trust, Inc. has a fifty-two week low of $15.25 and a fifty-two week high of $22.26. The firm has a market capitalization of $4.84 billion, a PE ratio of 116.53, a P/E/G ratio of 2.91 and a beta of 1.19. The company’s 50-day moving average is $20.31 and its 200 day moving average is $20.31.

Independence Realty Trust (NYSE:IRT) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates 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, analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, March 28th will be paid a $0.16 dividend. 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 dividend payout ratio (DPR) is presently 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.