Charles Schwab Investment Management Inc. Raises Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Charles Schwab Investment Management Inc. grew its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,618,723 shares of the real estate investment trust’s stock after acquiring an additional 57,108 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.55% of Independence Realty Trust worth $76,825,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Independence Realty Trust by 1.7% in the first quarter. Vanguard Group Inc. now owns 32,806,493 shares of the real estate investment trust’s stock valued at $696,482,000 after acquiring an additional 554,729 shares in the last quarter. Blue Sky Capital Consultants Group Inc. lifted its position in shares of Independence Realty Trust by 5.1% in the first quarter. Blue Sky Capital Consultants Group Inc. now owns 272,719 shares of the real estate investment trust’s stock valued at $5,790,000 after acquiring an additional 13,312 shares in the last quarter. Wealthquest Corp purchased a new stake in shares of Independence Realty Trust in the first quarter valued at $85,000. Natixis Advisors LLC lifted its position in shares of Independence Realty Trust by 2.5% in the first quarter. Natixis Advisors LLC now owns 106,901 shares of the real estate investment trust’s stock valued at $2,270,000 after acquiring an additional 2,585 shares in the last quarter. Finally, Arkadios Wealth Advisors purchased a new stake in shares of Independence Realty Trust in the first quarter valued at $264,000. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wall Street Zen upgraded Independence Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Compass Point upgraded Independence Realty Trust from a “neutral” rating to a “buy” rating and increased their target price for the stock from $22.00 to $24.00 in a research report on Thursday, July 31st. JMP Securities reiterated a “market outperform” rating and set a $25.00 target price on shares of Independence Realty Trust in a research report on Monday, May 5th. Barclays reduced their target price on Independence Realty Trust from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, UBS Group reduced their target price on Independence Realty Trust from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, July 15th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.56.

Independence Realty Trust Price Performance

Independence Realty Trust stock opened at $17.61 on Thursday. The stock’s 50-day moving average is $17.57 and its 200-day moving average is $19.00. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 146.75, a price-to-earnings-growth ratio of 2.40 and a beta of 0.94. Independence Realty Trust, Inc. has a 12 month low of $16.59 and a 12 month high of $22.26.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.28 EPS for the quarter, hitting analysts’ consensus estimates of $0.28. The company had revenue of $161.89 million for the quarter, compared to the consensus estimate of $164.78 million. Independence Realty Trust had a return on equity of 0.78% and a net margin of 4.31%. During the same period last year, the business posted $0.28 EPS. Research analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

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.