Louisiana State Employees Retirement System Takes Position in Independence Realty Trust, Inc. (NYSE:IRT)

Louisiana State Employees Retirement System acquired a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the fourth quarter, Holdings Channel.com reports. The fund acquired 63,100 shares of the real estate investment trust’s stock, valued at approximately $965,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Koshinski Asset Management Inc. lifted its position in shares of Independence Realty Trust by 39.7% during 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 acquiring an additional 5,342 shares during the last quarter. Custom Index Systems LLC purchased a new stake in shares of Independence Realty Trust in the fourth quarter valued at $251,000. Peregrine Capital Management LLC purchased a new stake in shares of Independence Realty Trust in the fourth quarter valued at $7,728,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Independence Realty Trust in the fourth quarter valued at $374,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Independence Realty Trust in the fourth quarter valued at $2,230,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Trading Up 0.5 %

Shares of NYSE:IRT opened at $15.75 on Thursday. Independence Realty Trust, Inc. has a 1 year low of $11.61 and a 1 year high of $18.77. The business has a fifty day simple moving average of $15.65 and a 200 day simple moving average of $14.77. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of -225.00, a P/E/G ratio of 2.31 and a beta of 1.07.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, March 29th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend was Wednesday, March 27th. Independence Realty Trust’s payout ratio is -914.29%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IRT. Barclays reduced their target price on Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, February 20th. Royal Bank of Canada increased their target price on Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Deutsche Bank Aktiengesellschaft assumed coverage on Independence Realty Trust in a report on Tuesday, January 30th. They issued a “buy” rating and a $18.00 target price for the company. TheStreet lowered Independence Realty Trust from a “c” rating to a “d+” rating in a report on Friday, March 1st. Finally, JMP Securities increased their price objective on Independence Realty Trust from $15.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, Independence Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $17.00.

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.