Walleye Capital LLC Acquires New Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Walleye Capital LLC bought a new position in Independence Realty Trust, Inc. (NYSE:IRT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,646 shares of the real estate investment trust’s stock, valued at approximately $251,000.

Several other hedge funds have also recently made changes to their positions in the company. Global Retirement Partners LLC increased 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 worth $26,000 after acquiring an additional 521 shares during the last quarter. Amundi boosted its position in Independence Realty Trust by 0.5% during the fourth quarter. Amundi now owns 122,544 shares of the real estate investment trust’s stock worth $2,304,000 after purchasing an additional 597 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Independence Realty Trust by 0.5% in the fourth quarter. State of Alaska Department of Revenue now owns 133,831 shares of the real estate investment trust’s stock worth $2,654,000 after purchasing an additional 643 shares in the last quarter. Blue Trust Inc. raised its position 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 purchasing an additional 692 shares during the period. Finally, Ironsides Asset Advisors LLC lifted its stake in shares of Independence Realty Trust by 7.0% during the 4th quarter. Ironsides Asset Advisors LLC now owns 11,070 shares of the real estate investment trust’s stock valued at $220,000 after buying an additional 725 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Price Performance

Shares of NYSE:IRT opened at $19.61 on Friday. Independence Realty Trust, Inc. has a one year low of $15.65 and a one year high of $22.26. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 108.94, a PEG ratio of 2.91 and a beta of 0.98. The company’s fifty day moving average price is $20.20 and its 200-day moving average price is $20.14.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.24. Independence Realty Trust had a return on equity of 1.11% and a net margin of 6.15%. As a group, equities research analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Friday, March 28th were issued a $0.16 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.26%. Independence Realty Trust’s payout ratio is 355.56%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Independence Realty Trust news, CEO Scott Schaeffer sold 10,000 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 873,365 shares in the company, valued at $18,524,071.65. This represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.58% of the stock is owned by corporate insiders.

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.