Louisiana State Employees Retirement System Invests $965,000 in Independence Realty Trust, Inc. (NYSE:IRT)

Louisiana State Employees Retirement System acquired a new position in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 63,100 shares of the real estate investment trust’s stock, valued at approximately $965,000.

Several other institutional investors and hedge funds have also made changes to their positions in IRT. Koshinski Asset Management Inc. boosted its position in shares of Independence Realty Trust by 39.7% in the 4th quarter. Koshinski Asset Management Inc. now owns 18,781 shares of the real estate investment trust’s stock valued at $287,000 after purchasing an additional 5,342 shares during the period. Custom Index Systems LLC acquired a new stake in shares of Independence Realty Trust in the 4th quarter valued at about $251,000. Peregrine Capital Management LLC acquired a new stake in shares of Independence Realty Trust in the 4th quarter valued at about $7,728,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Independence Realty Trust in the 4th quarter valued at about $374,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Independence Realty Trust in the 4th quarter valued at about $2,230,000. 88.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JMP Securities upped their target price on Independence Realty Trust from $15.00 to $17.00 and gave the company a “market outperform” rating in a research report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft began coverage on Independence Realty Trust in a research report on Tuesday, January 30th. They issued a “buy” rating and a $18.00 target price for the company. Royal Bank of Canada increased their price objective on Independence Realty Trust from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Barclays decreased their price objective on Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. Finally, TheStreet cut Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.00.

Independence Realty Trust Trading Up 0.5 %

Shares of IRT stock opened at $15.75 on Thursday. The company has a market cap of $3.54 billion, a price-to-earnings ratio of -225.00, a price-to-earnings-growth ratio of 2.31 and a beta of 1.07. The stock has a 50 day simple moving average of $15.65 and a 200-day simple moving average of $14.77. Independence Realty Trust, Inc. has a 12-month low of $11.61 and a 12-month high of $18.77.

Independence Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, March 29th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date was Wednesday, March 27th. Independence Realty Trust’s dividend payout ratio (DPR) is -914.29%.

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.