Independence Realty Trust, Inc. (NYSE:IRT) Stock Holdings Increased by Keybank National Association OH

Keybank National Association OH boosted its position in Independence Realty Trust, Inc. (NYSE:IRT) by 3.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 34,606 shares of the real estate investment trust’s stock after buying an additional 1,122 shares during the period. Keybank National Association OH’s holdings in Independence Realty Trust were worth $687,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its stake in Independence Realty Trust by 236.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,027,943 shares of the real estate investment trust’s stock valued at $82,573,000 after acquiring an additional 2,829,247 shares during the period. Wellington Management Group LLP boosted its stake in Independence Realty Trust by 24.4% in the third quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust’s stock valued at $232,900,000 after acquiring an additional 2,225,371 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Independence Realty Trust by 419.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,433,058 shares of the real estate investment trust’s stock valued at $29,378,000 after acquiring an additional 1,157,052 shares during the period. JPMorgan Chase & Co. boosted its stake in Independence Realty Trust by 38.0% in the third quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust’s stock valued at $51,150,000 after acquiring an additional 686,630 shares during the period. Finally, Aew Capital Management L P boosted its stake in Independence Realty Trust by 23.1% in the fourth quarter. Aew Capital Management L P now owns 2,316,915 shares of the real estate investment trust’s stock valued at $45,968,000 after acquiring an additional 434,290 shares during the period. 88.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Independence Realty Trust Price Performance

Shares of NYSE:IRT opened at $20.99 on Friday. Independence Realty Trust, Inc. has a 12 month low of $15.23 and a 12 month high of $22.26. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 116.62, a PEG ratio of 2.91 and a beta of 1.18. The stock’s 50 day moving average price is $19.84 and its 200 day moving average price is $20.25.

Independence Realty Trust (NYSE:IRT) last announced its 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 return on equity of 1.11% and a net margin of 6.15%. On average, sell-side analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were issued a dividend of $0.16 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.64 annualized dividend and a yield of 3.05%. Independence Realty Trust’s payout ratio is 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.