Congress Asset Management Co. Has $2.68 Million Position in Independence Realty Trust, Inc. (NYSE:IRT)

Congress Asset Management Co. lifted its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 4.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 134,876 shares of the real estate investment trust’s stock after purchasing an additional 5,998 shares during the period. Congress Asset Management Co. owned 0.06% of Independence Realty Trust worth $2,676,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of IRT. Massachusetts Financial Services Co. MA increased its position in Independence Realty Trust by 236.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,027,943 shares of the real estate investment trust’s stock worth $82,573,000 after buying an additional 2,829,247 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Independence Realty Trust by 24.4% during the 3rd quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust’s stock worth $232,900,000 after acquiring an additional 2,225,371 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Independence Realty Trust by 419.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,433,058 shares of the real estate investment trust’s stock worth $29,378,000 after acquiring an additional 1,157,052 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Independence Realty Trust by 38.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust’s stock valued at $51,150,000 after purchasing an additional 686,630 shares during the last quarter. Finally, Easterly Investment Partners LLC bought a new position in Independence Realty Trust during the third quarter worth $11,132,000. 88.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays reduced their target price on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. BMO Capital Markets upgraded Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $19.00 to $21.00 in a report on Friday, November 15th. Finally, JMP Securities reiterated a “market outperform” rating and set a $22.00 target price on shares of Independence Realty Trust in a research note on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Independence Realty Trust currently has an average rating of “Moderate Buy” and an average target price of $21.50.

Independence Realty Trust Trading Up 0.0 %

NYSE IRT opened at $20.53 on Tuesday. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 2.77 and a beta of 1.21. The company has a 50 day moving average of $19.75 and a 200-day moving average of $20.10. Independence Realty Trust, Inc. has a 1-year low of $14.35 and a 1-year high of $22.26.

Independence Realty Trust (NYSE:IRT) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.24. Independence Realty Trust had a negative return on equity of 0.01% and a negative net margin of 0.03%. On average, equities research analysts forecast that Independence Realty Trust, Inc. will post 1.15 earnings per share for the current year.

Independence Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Tuesday, December 31st.

Independence Realty Trust 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.