Cibc World Markets Corp Purchases New Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Cibc World Markets Corp acquired a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 21,151 shares of the real estate investment trust’s stock, valued at approximately $420,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC lifted 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 purchasing an additional 521 shares during the period. SRS Capital Advisors Inc. lifted its holdings in shares of Independence Realty Trust by 627.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 2,008 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Independence Realty Trust by 67.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 1,000 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Independence Realty Trust by 33.9% during the 4th quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 692 shares in the last quarter. Finally, Avior Wealth Management LLC raised its position in Independence Realty Trust by 437.8% during the third quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 2,443 shares in the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Independence Realty Trust Trading Down 0.6 %

NYSE IRT opened at $20.74 on Monday. Independence Realty Trust, Inc. has a 12 month low of $15.25 and a 12 month high of $22.26. The firm has a market capitalization of $4.79 billion, a PE ratio of 115.19, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19. The business’s 50-day moving average price is $20.14 and its two-hundred day moving average price is $20.29.

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

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Friday, March 28th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.09%. Independence Realty Trust’s payout ratio 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.