Independence Realty Trust, Inc. (NYSE:IRT) Shares Acquired by Cwm LLC

Cwm LLC lifted its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 7.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,878 shares of the real estate investment trust’s stock after purchasing an additional 2,236 shares during the period. Cwm LLC’s holdings in Independence Realty Trust were worth $518,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IRT. Peregrine Capital Management LLC acquired a new position in shares of Independence Realty Trust during the fourth quarter worth $7,728,000. Ranger Global Real Estate Advisors LLC raised its holdings in Independence Realty Trust by 15.0% in the third quarter. Ranger Global Real Estate Advisors LLC now owns 3,539,156 shares of the real estate investment trust’s stock valued at $49,796,000 after acquiring an additional 461,572 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. raised its holdings in Independence Realty Trust by 25.5% in the third quarter. Van Lanschot Kempen Investment Management N.V. now owns 853,747 shares of the real estate investment trust’s stock valued at $12,012,000 after acquiring an additional 173,700 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Independence Realty Trust in the fourth quarter valued at $2,230,000. Finally, Hsbc Holdings PLC raised its holdings in Independence Realty Trust by 48.4% in the third quarter. Hsbc Holdings PLC now owns 351,518 shares of the real estate investment trust’s stock valued at $4,929,000 after acquiring an additional 114,613 shares in the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Independence Realty Trust Price Performance

IRT stock opened at $15.79 on Wednesday. Independence Realty Trust, Inc. has a 1-year low of $11.61 and a 1-year high of $18.77. The firm has a fifty day moving average price of $15.68 and a two-hundred day moving average price of $14.82. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of -525.99, a PEG ratio of 2.32 and a beta of 1.07.

Independence Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, March 29th were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.64 annualized dividend and a dividend yield of 4.05%. Independence Realty Trust’s dividend payout ratio is currently -2,132.62%.

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.