Independence Realty Trust, Inc. (NYSE:IRT) Shares Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lifted its holdings in Independence Realty Trust, Inc. (NYSE:IRTGet Rating) by 11.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 121,202 shares of the real estate investment trust’s stock after purchasing an additional 12,150 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.05% of Independence Realty Trust worth $3,205,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Investment Research & Advisory Group Inc. acquired a new position in Independence Realty Trust during the 1st quarter worth approximately $26,000. Focused Wealth Management Inc acquired a new position in Independence Realty Trust during the 1st quarter worth approximately $27,000. Fieldpoint Private Securities LLC grew its holdings in Independence Realty Trust by 85.3% during the 1st quarter. Fieldpoint Private Securities LLC now owns 1,195 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 550 shares in the last quarter. Joseph P. Lucia & Associates LLC acquired a new position in Independence Realty Trust during the 1st quarter worth approximately $32,000. Finally, Johnson Financial Group Inc. acquired a new position in Independence Realty Trust during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 83.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IRT. KeyCorp lowered their target price on shares of Independence Realty Trust from $29.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, June 28th. Jefferies Financial Group lowered their target price on shares of Independence Realty Trust from $27.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, June 30th. TheStreet cut shares of Independence Realty Trust from a “b-” rating to a “c+” rating in a report on Tuesday, May 31st. StockNews.com upgraded shares of Independence Realty Trust to a “sell” rating in a report on Tuesday, August 9th. Finally, Compass Point set a $24.50 target price on shares of Independence Realty Trust in a report on Monday, June 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.72.

Independence Realty Trust Price Performance

IRT stock opened at $18.87 on Tuesday. The company has a fifty day moving average price of $20.74 and a 200 day moving average price of $23.03. Independence Realty Trust, Inc. has a 12 month low of $18.39 and a 12 month high of $28.42. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 8.75 and a beta of 0.94.

Independence Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Friday, September 30th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.56 dividend on an annualized basis and a yield of 2.97%. Independence Realty Trust’s payout ratio is currently 86.15%.

Independence Realty Trust Company Profile

(Get Rating)

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily apartment properties across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers.

Further Reading

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

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