Independence Realty Trust, Inc. $IRT Stake Lifted by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 1,327.3% in the third quarter, Holdings Channel reports. The firm owned 222,660 shares of the real estate investment trust’s stock after purchasing an additional 207,060 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Independence Realty Trust were worth $3,235,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. grew its holdings in shares of Independence Realty Trust by 1.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 330,202 shares of the real estate investment trust’s stock valued at $4,798,000 after acquiring an additional 3,220 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of Independence Realty Trust by 57.4% in the third quarter. Verdence Capital Advisors LLC now owns 23,910 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 8,723 shares during the last quarter. Leeward Investments LLC MA acquired a new stake in shares of Independence Realty Trust in the third quarter valued at about $12,348,000. Taylor Frigon Capital Management LLC increased its position in shares of Independence Realty Trust by 1.4% in the third quarter. Taylor Frigon Capital Management LLC now owns 97,982 shares of the real estate investment trust’s stock valued at $1,424,000 after acquiring an additional 1,351 shares during the last quarter. Finally, Inspire Investing LLC raised its holdings in Independence Realty Trust by 7.5% during the third quarter. Inspire Investing LLC now owns 43,653 shares of the real estate investment trust’s stock worth $634,000 after acquiring an additional 3,042 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on IRT shares. Jefferies Financial Group raised Independence Realty Trust to a “strong-buy” rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada raised their price target on Independence Realty Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Citigroup reaffirmed a “market outperform” rating on shares of Independence Realty Trust in a research report on Thursday, September 10th. Weiss Ratings raised Independence Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Finally, UBS Group dropped their price objective on Independence Realty Trust from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Independence Realty Trust has a consensus rating of “Moderate Buy” and a consensus target price of $19.39.

Independence Realty Trust Price Performance

Shares of IRT stock opened at $15.00 on Tuesday. The stock has a market cap of $3.54 billion, a P/E ratio of 12.56 and a beta of 0.96. The company has a fifty day moving average price of $15.15 and a two-hundred day moving average price of $16.06. Independence Realty Trust, Inc. has a one year low of $14.33 and a one year high of $17.79.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data on Monday, November 2nd. The real estate investment trust reported $0.29 EPS for the quarter, meeting analysts’ consensus estimates of $0.29. The company had revenue of $171.96 million during the quarter, compared to the consensus estimate of $171.43 million. Independence Realty Trust had a net margin of 6.52% and a return on equity of 1.22%. During the same quarter last year, the firm posted $0.29 EPS. As a group, equities research analysts anticipate that Independence Realty Trust, Inc. will post 1.14 EPS for the current fiscal year.

Independence Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Wednesday, September 30th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.8%. The ex-dividend date was Wednesday, September 30th. Independence Realty Trust’s dividend payout ratio (DPR) is 400.00%.

Independence Realty Trust Company Profile

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns, operates and acquires multifamily apartment communities in the United States. The company focuses on providing rental housing, with properties generally located in markets that offer population growth, employment opportunities and attractive long-term housing demand.

IRT’s portfolio is concentrated primarily in the Southeast and other select U.S. growth markets, including communities in states such as Georgia, North Carolina, South Carolina, Tennessee, Florida, Texas and Colorado.