Independence Realty Trust, Inc. (NYSE:IRT) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd raised its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 163.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 57,635 shares of the real estate investment trust’s stock after purchasing an additional 35,766 shares during the period. XTX Topco Ltd’s holdings in Independence Realty Trust were worth $1,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in Independence Realty Trust by 17.9% in the 4th quarter. Wellington Management Group LLP now owns 13,398,947 shares of the real estate investment trust’s stock valued at $265,835,000 after purchasing an additional 2,037,968 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Independence Realty Trust by 38.0% in the third quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust’s stock valued at $51,150,000 after purchasing an additional 686,630 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Independence Realty Trust in the fourth quarter valued at about $12,105,000. Aew Capital Management L P raised its holdings in shares of Independence Realty Trust by 23.1% in the fourth quarter. Aew Capital Management L P now owns 2,316,915 shares of the real estate investment trust’s stock valued at $45,968,000 after buying an additional 434,290 shares during the last quarter. Finally, Grove Bank & Trust acquired a new stake in shares of Independence Realty Trust during the fourth quarter worth about $7,636,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

Shares of NYSE IRT opened at $18.76 on Wednesday. The company’s fifty day moving average is $20.37 and its two-hundred day moving average is $20.17. The firm has a market capitalization of $4.33 billion, a P/E ratio of 104.19, a PEG ratio of 2.91 and a beta of 0.98. Independence Realty Trust, Inc. has a one year low of $15.27 and a one year high of $22.26.

Independence Realty Trust (NYSE:IRT) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping 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, sell-side analysts forecast that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal 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 paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.41%. The ex-dividend date is Friday, March 28th. Independence Realty Trust’s payout ratio is currently 355.56%.

Insider Buying and Selling

In other news, CEO Scott Schaeffer sold 10,000 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $21.21, for a total value of $212,100.00. Following the completion of the transaction, the chief executive officer now owns 873,365 shares in the company, valued at $18,524,071.65. This trade represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.58% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Jefferies Financial Group upgraded 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 research report on Monday, March 10th. UBS Group began coverage on Independence Realty Trust in a research note on Monday, April 7th. They set a “buy” rating and a $24.00 price target for the company. Barclays lifted their price objective on shares of Independence Realty Trust from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Friday, April 11th. Wells Fargo & Company initiated coverage on shares of Independence Realty Trust in a research report on Wednesday, March 19th. They set an “overweight” rating and a $24.00 price objective for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $22.00 target price on shares of Independence Realty Trust in a report on Tuesday, February 11th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.33.

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.