Aew Capital Management L P Has $45.97 Million Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Aew Capital Management L P increased its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 23.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,316,915 shares of the real estate investment trust’s stock after buying an additional 434,290 shares during the quarter. Independence Realty Trust accounts for 2.2% of Aew Capital Management L P’s portfolio, making the stock its 15th biggest holding. Aew Capital Management L P’s holdings in Independence Realty Trust were worth $45,968,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its holdings 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 valued at $26,000 after purchasing an additional 521 shares in the last quarter. Assetmark Inc. acquired a new stake in Independence Realty Trust during the third quarter valued at approximately $41,000. Blue Trust Inc. boosted its holdings in Independence Realty Trust by 295.9% during the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,527 shares in the last quarter. Avior Wealth Management LLC boosted its holdings 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. Finally, Sunbelt Securities Inc. acquired a new stake in Independence Realty Trust during the third quarter valued at approximately $64,000. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Trading Up 2.0 %

NYSE:IRT opened at $21.77 on Friday. Independence Realty Trust, Inc. has a 1 year low of $14.55 and a 1 year high of $22.26. The firm has a 50 day moving average of $19.73 and a 200-day moving average of $20.19. The stock has a market capitalization of $5.03 billion, a P/E ratio of 120.94, a price-to-earnings-growth ratio of 2.91 and a beta of 1.21.

Independence Realty Trust (NYSE:IRT) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating 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 EPS for the current fiscal year.

Independence Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Tuesday, December 31st. Independence Realty Trust’s dividend payout ratio (DPR) is currently 355.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays decreased their price objective on Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $19.00 to $21.00 in a report on Friday, November 15th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.33.

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.