Price T Rowe Associates Inc. MD Has $1.64 Million Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Price T Rowe Associates Inc. MD lessened its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 0.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,986 shares of the real estate investment trust’s stock after selling 815 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Independence Realty Trust were worth $1,640,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings in Independence Realty Trust by 13.9% during the first quarter. Ameriprise Financial Inc. now owns 465,144 shares of the real estate investment trust’s stock worth $7,072,000 after purchasing an additional 56,718 shares during the last quarter. Royal Bank of Canada boosted its holdings in Independence Realty Trust by 190.6% during the first quarter. Royal Bank of Canada now owns 36,956 shares of the real estate investment trust’s stock worth $561,000 after purchasing an additional 24,240 shares during the last quarter. AQR Capital Management LLC lifted its stake in Independence Realty Trust by 29.5% in the first quarter. AQR Capital Management LLC now owns 36,447 shares of the real estate investment trust’s stock valued at $554,000 after acquiring an additional 8,309 shares during the last quarter. California State Teachers Retirement System lifted its stake in Independence Realty Trust by 7.5% in the first quarter. California State Teachers Retirement System now owns 153,683 shares of the real estate investment trust’s stock valued at $2,336,000 after acquiring an additional 10,771 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in Independence Realty Trust by 53.6% in the first quarter. Cubist Systematic Strategies LLC now owns 17,324 shares of the real estate investment trust’s stock valued at $263,000 after acquiring an additional 6,048 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

A number of analysts have commented on the stock. Robert W. Baird reiterated a “buy” rating on shares of Independence Realty Trust in a research note on Monday, November 15th. B. Riley reiterated a “neutral” rating on shares of Independence Realty Trust in a research note on Tuesday, September 28th. KeyCorp increased their price target on shares of Independence Realty Trust from $22.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, November 3rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Independence Realty Trust from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, September 23rd. Finally, Zacks Investment Research upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Thursday, October 14th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $19.31.

Shares of IRT opened at $25.83 on Thursday. The firm has a market capitalization of $2.72 billion, a PE ratio of 89.07, a PEG ratio of 15.85 and a beta of 0.94. The company’s 50-day moving average is $22.47 and its 200-day moving average is $20.04. Independence Realty Trust, Inc. has a fifty-two week low of $12.76 and a fifty-two week high of $25.86.

Independence Realty Trust (NYSE:IRT) last issued its quarterly earnings data on Wednesday, October 27th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.09). Independence Realty Trust had a net margin of 12.85% and a return on equity of 4.00%. During the same quarter in the prior year, the business earned $0.20 earnings per share. As a group, sell-side analysts expect that Independence Realty Trust, Inc. will post 0.8 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 22nd. Investors of record on Friday, October 1st were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Thursday, September 30th. Independence Realty Trust’s dividend payout ratio is 165.52%.

About Independence Realty Trust

Independence Realty Trust, Inc is a real estate investment trust, which acquires, owns, operates, improves and manages multifamily apartment communities across non-gateway U.S. markets. It aims to provide stockholders risk-adjusted returns through diligent portfolio management, operational performance and consistent return of capital through distributions and capital appreciation.

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Institutional Ownership by Quarter for Independence Realty Trust (NYSE:IRT)

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