Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Independence Realty Trust, Inc. (NYSE:IRT – Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 135,700 shares of the real estate investment trust’s stock, valued at approximately $2,021,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.06% of Independence Realty Trust at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Danske Bank A S acquired a new position in shares of Independence Realty Trust during the third quarter worth $26,000. SHP Wealth Management purchased a new stake in Independence Realty Trust during the 4th quarter worth about $30,000. Farther Finance Advisors LLC boosted its position in shares of Independence Realty Trust by 70.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,810 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 747 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Independence Realty Trust by 97.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,875 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 1,422 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Independence Realty Trust by 73.2% during the 1st quarter. Assetmark Inc. now owns 3,630 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 1,534 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.
Independence Realty Trust Stock Performance
IRT stock opened at $16.63 on Friday. The stock has a market capitalization of $3.92 billion, a PE ratio of 83.14 and a beta of 0.95. The company has a fifty day moving average of $16.61 and a 200-day moving average of $16.34. Independence Realty Trust, Inc. has a one year low of $14.60 and a one year high of $18.18.
Independence Realty Trust Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were paid a dividend of $0.18 per share. This is a positive change from Independence Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.3%. Independence Realty Trust’s dividend payout ratio (DPR) is currently 360.00%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on IRT shares. UBS Group lowered their price target on Independence Realty Trust from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Jefferies Financial Group upgraded shares of Independence Realty Trust to a “strong-buy” rating in a research note on Wednesday, July 22nd. Barclays upgraded shares of Independence Realty Trust from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $19.00 to $20.00 in a research note on Tuesday, July 14th. Wall Street Zen cut Independence Realty Trust from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Finally, Wells Fargo & Company upped their target price on Independence Realty Trust from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.64.
Read Our Latest Stock Analysis on IRT
Independence Realty Trust Company Profile
Independence Realty Trust is a self-administered equity real estate investment trust that acquires, redevelops and manages multi-family communities. The company focuses on workforce housing, targeting Class A and B garden-style apartments in suburban and urban infill locations. Its core activities include sourcing value-add acquisitions, overseeing property renovations and delivering in-house property management services to optimize rental income and occupancy levels.
Headquartered in Wayne, Pennsylvania, Independence Realty Trust maintains a geographically diverse portfolio across several high-growth U.S.
Featured Articles
- Five stocks we like better than Independence Realty Trust
- Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector
- Amazon’s Earnings Beat Shows Why AWS Is Back at the Center of the Bull Case
- Apple’s Record Quarter Could Not Outrun Its Guidance Problem
- McKesson’s Compounding Keeps Adding Up
Want to see what other hedge funds are holding IRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Independence Realty Trust, Inc. (NYSE:IRT – Free Report).
Receive News & Ratings for Independence Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independence Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.
