Independence Realty Trust, Inc. (NYSE:IRT) Stock Holdings Increased by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 281,438 shares of the real estate investment trust’s stock after purchasing an additional 1,232 shares during the quarter. Retirement Systems of Alabama’s holdings in Independence Realty Trust were worth $4,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp lifted its position in shares of Independence Realty Trust by 83.9% in the fourth quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 1,183 shares in the last quarter. Allworth Financial LP raised its position in Independence Realty Trust by 37.0% during the fourth quarter. Allworth Financial LP now owns 4,237 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 1,145 shares in the last quarter. Sound Income Strategies LLC raised its position in Independence Realty Trust by 36.1% during the fourth quarter. Sound Income Strategies LLC now owns 4,850 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 1,287 shares in the last quarter. Clearstead Advisors LLC bought a new position in Independence Realty Trust during the third quarter valued at approximately $85,000. Finally, Lindbrook Capital LLC raised its position in Independence Realty Trust by 19.8% during the fourth quarter. Lindbrook Capital LLC now owns 6,379 shares of the real estate investment trust’s stock valued at $98,000 after acquiring an additional 1,054 shares in the last quarter. 88.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on IRT. Barclays cut 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 report on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft began 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 objective on the stock. TheStreet lowered shares of Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. Royal Bank of Canada increased their price target on Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, JMP Securities increased their price target on Independence Realty Trust from $15.00 to $17.00 and gave the company a “market outperform” rating in a report on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Independence Realty Trust has an average rating of “Hold” and a consensus target price of $17.00.

Independence Realty Trust Stock Up 1.3 %

Shares of IRT stock opened at $16.55 on Tuesday. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $18.77. The business’s 50 day moving average is $15.77 and its two-hundred day moving average is $14.89. The company has a market cap of $3.73 billion, a PE ratio of -551.48, a price-to-earnings-growth ratio of 2.39 and a beta of 1.07.

Independence Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, March 29th were paid a $0.16 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.64 annualized dividend and a dividend yield of 3.87%. Independence Realty Trust’s payout ratio is -2,132.62%.

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.