CFO4Life Group LLC Has $446,000 Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

CFO4Life Group LLC decreased its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 22.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,000 shares of the real estate investment trust’s stock after selling 5,977 shares during the period. CFO4Life Group LLC’s holdings in Independence Realty Trust were worth $446,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in Independence Realty Trust by 0.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 252,949 shares of the real estate investment trust’s stock worth $5,370,000 after buying an additional 731 shares during the period. Lightrock Netherlands B.V. increased its position in Independence Realty Trust by 32.3% during the 1st quarter. Lightrock Netherlands B.V. now owns 190,034 shares of the real estate investment trust’s stock worth $4,041,000 after buying an additional 46,385 shares during the period. SMART Wealth LLC increased its position in Independence Realty Trust by 4.9% during the 1st quarter. SMART Wealth LLC now owns 38,505 shares of the real estate investment trust’s stock worth $817,000 after buying an additional 1,791 shares during the period. Principal Financial Group Inc. increased its position in shares of Independence Realty Trust by 3.5% in the first quarter. Principal Financial Group Inc. now owns 747,252 shares of the real estate investment trust’s stock worth $15,864,000 after purchasing an additional 25,124 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Independence Realty Trust by 2.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 46,763 shares of the real estate investment trust’s stock worth $993,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 88.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on IRT shares. Wells Fargo & Company started coverage on Independence Realty Trust in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $24.00 price target on the stock. Compass Point reaffirmed a “neutral” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a research note on Tuesday, May 13th. Barclays raised their price objective on Independence Realty Trust from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. UBS Group assumed coverage on Independence Realty Trust in a research note on Monday, April 7th. They issued a “buy” rating and a $24.00 price objective on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 price objective on shares of Independence Realty Trust in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.70.

Independence Realty Trust Price Performance

Independence Realty Trust stock opened at $17.54 on Thursday. The stock’s 50 day moving average is $18.37 and its 200 day moving average is $19.35. The firm has a market cap of $4.10 billion, a P/E ratio of 125.29, a P/E/G ratio of 2.49 and a beta of 0.93. Independence Realty Trust, Inc. has a one year low of $17.10 and a one year high of $22.26.

Independence Realty Trust (NYSE:IRT) last issued 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 period last year, the firm posted $0.27 earnings per share. Independence Realty Trust’s quarterly revenue was up .4% compared to the same quarter last year. Equities analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Friday, June 27th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Friday, June 27th. This is an increase from Independence Realty Trust’s previous quarterly dividend of $0.16. Independence Realty Trust’s dividend payout ratio is 485.71%.

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.