Independence Realty Trust, Inc. $IRT Shares Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 22.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 312,203 shares of the real estate investment trust’s stock after acquiring an additional 58,226 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Independence Realty Trust were worth $5,457,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd raised its stake in Independence Realty Trust by 1.7% during the 3rd quarter. IFM Investors Pty Ltd now owns 37,925 shares of the real estate investment trust’s stock valued at $627,000 after purchasing an additional 628 shares during the period. Perigon Wealth Management LLC raised its stake in Independence Realty Trust by 5.6% during the 3rd quarter. Perigon Wealth Management LLC now owns 12,357 shares of the real estate investment trust’s stock valued at $203,000 after purchasing an additional 658 shares during the period. CWM LLC raised its stake in Independence Realty Trust by 1.8% during the 4th quarter. CWM LLC now owns 39,365 shares of the real estate investment trust’s stock valued at $688,000 after purchasing an additional 712 shares during the period. Huntington National Bank raised its stake in Independence Realty Trust by 46.4% during the 3rd quarter. Huntington National Bank now owns 2,289 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 725 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in 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 valued at $32,000 after purchasing an additional 747 shares during the period. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Trading Down 1.8%

NYSE IRT opened at $15.91 on Wednesday. Independence Realty Trust, Inc. has a 1-year low of $14.60 and a 1-year high of $19.94. The company has a market capitalization of $3.75 billion, a PE ratio of 66.30, a price-to-earnings-growth ratio of 1.81 and a beta of 1.00. The firm’s fifty day simple moving average is $15.87 and its 200-day simple moving average is $16.42.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. Independence Realty Trust had a net margin of 8.60% and a return on equity of 1.58%. The business had revenue of $167.13 million for the quarter, compared to the consensus estimate of $170.26 million. During the same period in the prior year, the business posted $0.32 earnings per share. Independence Realty Trust’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts predict that Independence Realty Trust, Inc. will post 1.14 EPS for the current year.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.3%. Independence Realty Trust’s dividend payout ratio is 283.33%.

Wall Street Analyst Weigh In

Several analysts have issued reports on IRT shares. Wall Street Zen downgraded shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Sunday, February 22nd. Citigroup reissued an “outperform” rating on shares of Independence Realty Trust in a research note on Friday, January 9th. Zacks Research raised shares of Independence Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Independence Realty Trust in a research note on Friday, March 27th. Finally, UBS Group boosted their target price on shares of Independence Realty Trust from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.61.

About Independence Realty Trust

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.