SMART Wealth LLC Acquires 1,791 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

SMART Wealth LLC raised its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 4.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,505 shares of the real estate investment trust’s stock after purchasing an additional 1,791 shares during the period. SMART Wealth LLC’s holdings in Independence Realty Trust were worth $817,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. SRS Capital Advisors Inc. lifted its holdings in shares of Independence Realty Trust by 627.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 2,008 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Independence Realty Trust by 67.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 1,000 shares during the period. HM Payson & Co. lifted its holdings in shares of Independence Realty Trust by 119.8% during the 4th quarter. HM Payson & Co. now owns 3,978 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 2,168 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of Independence Realty Trust during the 4th quarter worth approximately $83,000. Finally, Wealthquest Corp bought a new stake in shares of Independence Realty Trust during the 1st quarter worth approximately $85,000. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

Shares of NYSE IRT opened at $17.78 on Friday. Independence Realty Trust, Inc. has a 52-week low of $17.10 and a 52-week high of $22.26. The firm has a 50 day moving average price of $18.52 and a two-hundred day moving average price of $19.43. The stock has a market cap of $4.16 billion, a P/E ratio of 127.00, a price-to-earnings-growth ratio of 2.49 and a beta of 0.93.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). Independence Realty Trust had a net margin of 4.70% and a return on equity of 0.85%. The business had revenue of $160.91 million during the quarter, compared to analyst estimates of $164.08 million. During the same quarter last year, the company posted $0.27 earnings per share. The company’s revenue was up .4% compared to the same quarter last year. Analysts predict that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Friday, June 27th will be given a $0.17 dividend. This is a boost from Independence Realty Trust’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Friday, June 27th. Independence Realty Trust’s dividend payout ratio is 485.71%.

Wall Street Analysts Forecast Growth

IRT has been the subject of a number of recent analyst reports. Compass Point reaffirmed a “neutral” rating and set a $22.00 price target on shares of Independence Realty Trust in a report on Tuesday, May 13th. Wells Fargo & Company began coverage on shares of Independence Realty Trust in a research report on Wednesday, March 19th. They set an “overweight” rating and a $24.00 price objective for the company. JMP Securities reiterated a “market outperform” rating and set a $25.00 price objective on shares of Independence Realty Trust in a research report on Monday, May 5th. Jefferies Financial Group upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating and upped their price objective for the stock from $20.00 to $24.00 in a research report on Monday, March 10th. Finally, UBS Group began coverage on shares of Independence Realty Trust in a research report on Monday, April 7th. They set a “buy” rating and a $24.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.70.

Independence Realty Trust Company 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.