Envestnet Asset Management Inc. Has $5 Million Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Envestnet Asset Management Inc. grew its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 2.1% in the 4th quarter, Holdings Channel reports. The fund owned 252,218 shares of the real estate investment trust’s stock after purchasing an additional 5,223 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Independence Realty Trust were worth $5,004,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Global Retirement Partners LLC boosted its holdings in Independence Realty Trust by 66.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 521 shares during the period. SRS Capital Advisors Inc. increased its holdings in shares of Independence Realty Trust by 627.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 2,008 shares during the period. Jones Financial Companies Lllp raised its position in shares of Independence Realty Trust by 67.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 1,000 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Independence Realty Trust by 33.9% in the fourth quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 692 shares during the period. Finally, Venturi Wealth Management LLC acquired a new stake in Independence Realty Trust during the fourth quarter worth about $70,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Insider Activity at Independence Realty Trust

In other Independence Realty Trust news, CEO Scott Schaeffer sold 10,000 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $21.21, for a total transaction of $212,100.00. Following the sale, the chief executive officer now owns 873,365 shares of the company’s stock, valued at $18,524,071.65. This represents a 1.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

IRT has been the subject of several recent research reports. UBS Group began coverage on Independence Realty Trust in a report on Monday, April 7th. They issued a “buy” rating and a $24.00 price target for the company. Jefferies Financial Group upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and upped their target price for the company from $20.00 to $24.00 in a research note on Monday, March 10th. Barclays lifted their price target on shares of Independence Realty Trust from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Friday, April 11th. JMP Securities restated a “market outperform” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company started coverage on shares of Independence Realty Trust in a research report on Wednesday, March 19th. They set an “overweight” rating and a $24.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.33.

Independence Realty Trust Stock Performance

Shares of NYSE:IRT opened at $19.42 on Wednesday. The company’s fifty day moving average is $20.27 and its 200-day moving average is $20.13. Independence Realty Trust, Inc. has a 52 week low of $15.27 and a 52 week high of $22.26. The company has a market capitalization of $4.49 billion, a PE ratio of 107.89, a P/E/G ratio of 2.91 and a beta of 0.98.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.24. Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.11%. On average, analysts forecast that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Friday, March 28th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a yield of 3.30%. Independence Realty Trust’s dividend payout ratio (DPR) is presently 355.56%.

Independence Realty Trust Company 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.