Envestnet Portfolio Solutions Inc. Has $356,000 Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Envestnet Portfolio Solutions Inc. reduced its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,923 shares of the real estate investment trust’s stock after selling 827 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Independence Realty Trust were worth $356,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of IRT. Global Retirement Partners LLC lifted its holdings in shares of Independence Realty Trust by 66.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 521 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in Independence Realty Trust by 627.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 2,008 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Independence Realty Trust by 67.1% in 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 in the last quarter. Blue Trust Inc. grew its stake in shares of Independence Realty Trust by 33.9% during the fourth quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 692 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of Independence Realty Trust during the third quarter worth $64,000. 88.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IRT. JMP Securities restated a “market outperform” rating and set a $22.00 price objective on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Barclays lowered their price objective on Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company assumed coverage on shares of Independence Realty Trust in a report on Wednesday, March 19th. They set an “overweight” rating and a $24.00 target price on the stock. Finally, Jefferies Financial Group upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $24.00 in a report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Independence Realty Trust Stock Performance

Shares of NYSE IRT opened at $20.98 on Friday. The company’s 50 day moving average price is $20.31 and its 200-day moving average price is $20.31. Independence Realty Trust, Inc. has a 52-week low of $15.25 and a 52-week high of $22.26. The company has a market capitalization of $4.84 billion, a P/E ratio of 116.53, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19.

Independence Realty Trust (NYSE:IRT) last issued 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%. Analysts forecast that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, March 28th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a yield of 3.05%. Independence Realty Trust’s payout ratio is currently 355.56%.

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.