Independence Realty Trust, Inc. (NYSE:IRT) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC boosted its position in Independence Realty Trust, Inc. (NYSE:IRT) by 29.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,129,313 shares of the real estate investment trust’s stock after purchasing an additional 941,676 shares during the period. Jennison Associates LLC owned approximately 1.84% of Independence Realty Trust worth $63,178,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC lifted its position in Independence Realty Trust by 7.1% in the fourth quarter. CWM LLC now owns 33,878 shares of the real estate investment trust’s stock worth $518,000 after purchasing an additional 2,236 shares during the period. Signaturefd LLC lifted its position in Independence Realty Trust by 82.3% in the fourth quarter. Signaturefd LLC now owns 11,947 shares of the real estate investment trust’s stock worth $183,000 after purchasing an additional 5,392 shares during the period. Lindbrook Capital LLC lifted its position in shares of Independence Realty Trust by 19.8% during the 4th quarter. Lindbrook Capital LLC now owns 6,379 shares of the real estate investment trust’s stock valued at $98,000 after acquiring an additional 1,054 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Independence Realty Trust by 17.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 92,914 shares of the real estate investment trust’s stock valued at $1,422,000 after acquiring an additional 13,663 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Independence Realty Trust by 8.0% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 264,564 shares of the real estate investment trust’s stock valued at $4,048,000 after acquiring an additional 19,672 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Independence Realty Trust Stock Up 1.3 %

Shares of NYSE:IRT opened at $15.83 on Tuesday. The company’s fifty day moving average is $15.60 and its two-hundred day moving average is $14.75. Independence Realty Trust, Inc. has a 12-month low of $11.61 and a 12-month high of $18.77. The company has a market cap of $3.56 billion, a P/E ratio of -226.11, a price-to-earnings-growth ratio of 2.28 and a beta of 1.07.

Independence Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, March 29th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend was Wednesday, March 27th. Independence Realty Trust’s dividend payout ratio (DPR) is currently -914.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on IRT shares. Deutsche Bank Aktiengesellschaft started coverage on Independence Realty Trust in a research report on Tuesday, January 30th. They set a “buy” rating and a $18.00 price objective for the company. TheStreet downgraded Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. Barclays cut 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. Royal Bank of Canada increased their price objective on Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Finally, JMP Securities increased their price objective 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. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.00.

About Independence Realty Trust

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.