Independence Realty Trust, Inc. (NYSE:IRT) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 8.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 264,564 shares of the real estate investment trust’s stock after acquiring an additional 19,672 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Independence Realty Trust were worth $4,048,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the stock. Louisiana State Employees Retirement System acquired a new stake in shares of Independence Realty Trust in the fourth quarter valued at about $965,000. Koshinski Asset Management Inc. grew its position in shares of Independence Realty Trust by 39.7% in the fourth quarter. Koshinski Asset Management Inc. now owns 18,781 shares of the real estate investment trust’s stock valued at $287,000 after purchasing an additional 5,342 shares during the period. Custom Index Systems LLC acquired a new stake in shares of Independence Realty Trust in the fourth quarter valued at about $251,000. Peregrine Capital Management LLC acquired a new stake in shares of Independence Realty Trust in the fourth quarter valued at about $7,728,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Independence Realty Trust in the fourth quarter valued at about $374,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Shares of IRT stock opened at $15.67 on Wednesday. The firm’s 50-day moving average is $15.63 and its two-hundred day moving average is $14.76. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $18.77. The company has a market capitalization of $3.53 billion, a PE ratio of -223.75, a price-to-earnings-growth ratio of 2.28 and a beta of 1.07.

Independence Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, March 29th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date was Wednesday, March 27th. Independence Realty Trust’s dividend payout ratio (DPR) is presently -914.16%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IRT. TheStreet lowered shares of Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. JMP Securities boosted their price target on shares of Independence Realty Trust from $15.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Wednesday, March 6th. Barclays lowered 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 research report on Tuesday, February 20th. Royal Bank of Canada boosted their price target on shares of Independence Realty Trust from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Independence Realty Trust in a research report on Tuesday, January 30th. They set a “buy” rating and a $18.00 price target on the stock. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.00.

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.