207,060 Independence Realty Trust, Inc. $IRT Shares Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 1,327.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 222,660 shares of the real estate investment trust’s stock after acquiring an additional 207,060 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.09% of Independence Realty Trust worth $3,235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Asset Management One Co. Ltd. lifted its holdings in Independence Realty Trust by 1.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 330,202 shares of the real estate investment trust’s stock worth $4,798,000 after buying an additional 3,220 shares in the last quarter. Verdence Capital Advisors LLC boosted its position in Independence Realty Trust by 57.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 23,910 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 8,723 shares during the last quarter. Leeward Investments LLC MA acquired a new position in shares of Independence Realty Trust during the third quarter valued at $12,348,000. Taylor Frigon Capital Management LLC lifted its stake in shares of Independence Realty Trust by 1.4% during the third quarter. Taylor Frigon Capital Management LLC now owns 97,982 shares of the real estate investment trust’s stock valued at $1,424,000 after acquiring an additional 1,351 shares during the period. Finally, Inspire Investing LLC boosted its holdings in Independence Realty Trust by 7.5% in the third quarter. Inspire Investing LLC now owns 43,653 shares of the real estate investment trust’s stock valued at $634,000 after acquiring an additional 3,042 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Independence Realty Trust Price Performance

NYSE IRT opened at $15.00 on Tuesday. The firm has a market cap of $3.54 billion, a P/E ratio of 12.56 and a beta of 0.96. The stock’s 50-day moving average is $15.15 and its 200-day moving average is $16.06. Independence Realty Trust, Inc. has a one year low of $14.33 and a one year high of $17.79.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported $0.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.29. The firm had revenue of $171.96 million for the quarter, compared to analyst estimates of $171.43 million. Independence Realty Trust had a net margin of 6.52% and a return on equity of 1.22%. During the same quarter in the previous year, the firm posted $0.29 earnings per share. Equities analysts anticipate that Independence Realty Trust, Inc. will post 1.14 EPS for the current year.

Independence Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Wednesday, September 30th were paid a $0.18 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.72 annualized dividend and a yield of 4.8%. Independence Realty Trust’s payout ratio is presently 400.00%.

Analyst Ratings Changes

IRT has been the subject of a number of research reports. Barclays lowered their price objective on Independence Realty Trust from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, October 14th. UBS Group cut their target price on shares of Independence Realty Trust from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, October 14th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $22.00 target price on shares of Independence Realty Trust in a research note on Thursday, September 10th. Wall Street Zen upgraded shares of Independence Realty Trust from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Wells Fargo & Company lowered their price target on shares of Independence Realty Trust from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.39.

Independence Realty Trust Company Profile

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns, operates and acquires multifamily apartment communities in the United States. The company focuses on providing rental housing, with properties generally located in markets that offer population growth, employment opportunities and attractive long-term housing demand.

IRT’s portfolio is concentrated primarily in the Southeast and other select U.S. growth markets, including communities in states such as Georgia, North Carolina, South Carolina, Tennessee, Florida, Texas and Colorado.