Independence Realty Trust, Inc. (NYSE:IRT) Shares Bought by Quantbot Technologies LP

Quantbot Technologies LP boosted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 26.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 141,169 shares of the real estate investment trust’s stock after acquiring an additional 29,128 shares during the period. Quantbot Technologies LP owned about 0.06% of Independence Realty Trust worth $2,801,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Global Retirement Partners LLC raised its position in Independence Realty Trust by 66.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 521 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Independence Realty Trust by 0.5% during the third 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 during the last quarter. Amundi raised its position in Independence Realty Trust by 0.5% during the fourth quarter. Amundi now owns 122,544 shares of the real estate investment trust’s stock worth $2,304,000 after acquiring an additional 597 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Independence Realty Trust by 0.5% in 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 buying an additional 643 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of 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 valued at $56,000 after buying an additional 692 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

Shares of IRT stock opened at $20.74 on Friday. Independence Realty Trust, Inc. has a one year low of $15.25 and a one year high of $22.26. The company has a 50 day moving average price of $20.14 and a 200 day moving average price of $20.29. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 115.19, a price-to-earnings-growth ratio of 2.91 and a beta of 1.18.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS 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%. As a group, equities analysts forecast that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal 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 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 yield of 3.09%. Independence Realty Trust’s dividend payout ratio is currently 355.56%.

Wall Street Analyst Weigh In

IRT has been the subject of a number of analyst reports. Jefferies Financial Group raised shares of Independence Realty Trust from a “hold” rating to a “buy” rating and boosted their price objective for the company from $20.00 to $24.00 in a research report on Monday, March 10th. Wells Fargo & Company initiated coverage on shares of Independence Realty Trust in a research report on Wednesday. They issued an “overweight” rating and a $24.00 price objective for the company. JMP Securities reissued a “market outperform” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Finally, Barclays cut their price objective on shares of Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Independence Realty Trust Company 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.