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

Lindbrook Capital LLC raised its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 19.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,379 shares of the real estate investment trust’s stock after buying an additional 1,054 shares during the period. Lindbrook Capital LLC’s holdings in Independence Realty Trust were worth $98,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Independence Realty Trust by 17.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 92,914 shares of the real estate investment trust’s stock valued at $1,422,000 after buying an additional 13,663 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Independence Realty Trust by 8.0% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 264,564 shares of the real estate investment trust’s stock worth $4,048,000 after purchasing an additional 19,672 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Independence Realty Trust during the fourth quarter worth about $965,000. Koshinski Asset Management Inc. lifted its holdings in shares of Independence Realty Trust by 39.7% in the 4th 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 last quarter. Finally, Custom Index Systems LLC acquired a new stake in shares of Independence Realty Trust in the 4th quarter valued at about $251,000. 88.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IRT shares. Royal Bank of Canada boosted their price objective on Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Barclays dropped their price objective on shares of Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 20th. 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. JMP Securities boosted their price target on Independence Realty Trust from $15.00 to $17.00 and gave the company a “market outperform” rating in a research report on Wednesday, March 6th. Finally, TheStreet cut Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.00.

Independence Realty Trust Price Performance

NYSE IRT opened at $15.75 on Thursday. Independence Realty Trust, Inc. has a 52-week low of $11.61 and a 52-week high of $18.77. The firm has a 50-day moving average price of $15.65 and a 200 day moving average price of $14.77.

Independence Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, March 29th were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.64 annualized dividend and a dividend yield of 4.06%. Independence Realty Trust’s dividend payout ratio is currently -914.16%.

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.