Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 33,946 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 38.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 122,716 shares of the real estate investment trust’s stock after buying an additional 33,946 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.05% of Independence Realty Trust worth $2,435,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IRT. Xponance Inc. boosted its position in shares of Independence Realty Trust by 4.7% during the 4th quarter. Xponance Inc. now owns 31,954 shares of the real estate investment trust’s stock valued at $634,000 after acquiring an additional 1,424 shares during the last quarter. Intech Investment Management LLC lifted its position in Independence Realty Trust by 97.2% during the fourth quarter. Intech Investment Management LLC now owns 157,186 shares of the real estate investment trust’s stock valued at $3,119,000 after purchasing an additional 77,469 shares during the last quarter. Signaturefd LLC grew its stake in Independence Realty Trust by 6.6% in the 4th quarter. Signaturefd LLC now owns 19,114 shares of the real estate investment trust’s stock worth $379,000 after buying an additional 1,189 shares in the last quarter. Cibc World Markets Corp purchased a new position in Independence Realty Trust in the 4th quarter worth approximately $420,000. Finally, Ironsides Asset Advisors LLC increased its holdings in shares of Independence Realty Trust by 7.0% in the 4th quarter. Ironsides Asset Advisors LLC now owns 11,070 shares of the real estate investment trust’s stock worth $220,000 after buying an additional 725 shares during the last quarter. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Independence Realty Trust Stock Performance

NYSE:IRT opened at $21.00 on Tuesday. Independence Realty Trust, Inc. has a fifty-two week low of $15.25 and a fifty-two week high of $22.26. The firm has a market cap of $4.85 billion, a PE ratio of 116.69, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19. The business has a 50 day moving average price of $20.19 and a 200-day moving average price of $20.29.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating 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%. Research analysts predict that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Friday, March 28th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a yield of 3.05%. Independence Realty Trust’s dividend payout ratio is presently 355.56%.

Wall Street Analysts Forecast Growth

IRT has been the subject of several research reports. Barclays cut 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 research report on Wednesday, February 19th. Wells Fargo & Company began coverage on Independence Realty Trust in a report on Wednesday, March 19th. They issued an “overweight” rating and a $24.00 price objective for the company. JMP Securities restated a “market outperform” rating and issued a $22.00 target price on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Finally, Jefferies Financial Group upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating and increased their price target for the company from $20.00 to $24.00 in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Independence Realty Trust 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.