Silver Oak Securities Incorporated Increases Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Silver Oak Securities Incorporated lifted its position in Independence Realty Trust, Inc. (NYSE:IRT) by 20.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,463 shares of the real estate investment trust’s stock after acquiring an additional 8,367 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Independence Realty Trust were worth $757,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Retirement Systems of Alabama lifted its stake in Independence Realty Trust by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 281,438 shares of the real estate investment trust’s stock worth $4,306,000 after purchasing an additional 1,232 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Independence Realty Trust by 7.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 523,265 shares of the real estate investment trust’s stock worth $8,006,000 after acquiring an additional 37,882 shares during the last quarter. Bailard Inc. boosted its holdings in Independence Realty Trust by 6.5% during the 4th quarter. Bailard Inc. now owns 18,215 shares of the real estate investment trust’s stock valued at $279,000 after acquiring an additional 1,115 shares during the period. Jennison Associates LLC grew its position in Independence Realty Trust by 29.5% in the 4th quarter. Jennison Associates LLC now owns 4,129,313 shares of the real estate investment trust’s stock valued at $63,178,000 after acquiring an additional 941,676 shares during the last quarter. Finally, CWM LLC increased its stake in Independence Realty Trust by 7.1% in the fourth quarter. CWM LLC now owns 33,878 shares of the real estate investment trust’s stock worth $518,000 after purchasing an additional 2,236 shares during the period. 88.25% of the stock is owned by hedge funds and other institutional investors.

Independence Realty Trust Stock Performance

NYSE:IRT opened at $15.96 on Tuesday. The firm has a 50-day simple moving average of $15.67 and a 200-day simple moving average of $14.81. Independence Realty Trust, Inc. has a one year low of $11.61 and a one year high of $18.77.

Independence Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, March 29th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.64 dividend on an annualized basis and a yield of 4.01%. Independence Realty Trust’s dividend payout ratio is currently -2,132.62%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IRT. Royal Bank of Canada boosted their target price on shares of Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. TheStreet cut shares of Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Independence Realty Trust in a research note on Tuesday, January 30th. They issued a “buy” rating and a $18.00 target price on the stock. Barclays decreased their price target on shares of Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, February 20th. Finally, JMP Securities increased their price objective on Independence Realty Trust from $15.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.00.

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.