Independence Realty Trust Inc (IRT) Position Increased by Jennison Associates LLC

Jennison Associates LLC raised its position in Independence Realty Trust Inc (NYSE:IRT) by 30.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,276,664 shares of the real estate investment trust’s stock after purchasing an additional 526,715 shares during the quarter. Jennison Associates LLC owned 2.56% of Independence Realty Trust worth $20,900,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. raised its position in Independence Realty Trust by 6.8% in the 3rd quarter. BlackRock Inc. now owns 15,592,744 shares of the real estate investment trust’s stock worth $164,192,000 after purchasing an additional 996,693 shares during the period. Vanguard Group Inc. raised its position in Independence Realty Trust by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,598,071 shares of the real estate investment trust’s stock worth $101,067,000 after purchasing an additional 159,394 shares during the period. Vanguard Group Inc raised its position in Independence Realty Trust by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 9,598,071 shares of the real estate investment trust’s stock worth $101,067,000 after purchasing an additional 159,394 shares during the period. Alliancebernstein L.P. raised its position in Independence Realty Trust by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 5,622,096 shares of the real estate investment trust’s stock worth $59,201,000 after purchasing an additional 85,630 shares during the period. Finally, Renaissance Technologies LLC raised its position in Independence Realty Trust by 45.2% in the 3rd quarter. Renaissance Technologies LLC now owns 2,737,300 shares of the real estate investment trust’s stock worth $28,824,000 after purchasing an additional 852,300 shares during the period. 87.38% of the stock is currently owned by institutional investors.

IRT has been the topic of a number of recent analyst reports. Compass Point lowered shares of Independence Realty Trust from a “buy” rating to a “neutral” rating in a research report on Friday, November 2nd. Boenning Scattergood set a $11.00 price objective on shares of Independence Realty Trust and gave the stock a “buy” rating in a research report on Friday, November 2nd. B. Riley reduced their target price on shares of Independence Realty Trust from $11.00 to $10.50 and set a “buy” rating on the stock in a research report on Monday, November 5th. Zacks Investment Research lowered shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, November 7th. Finally, Capital One Financial began coverage on shares of Independence Realty Trust in a research report on Monday, November 19th. They set an “equal weight” rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Independence Realty Trust has a consensus rating of “Hold” and an average target price of $10.75.

Shares of NYSE:IRT opened at $10.28 on Friday. The company has a market cap of $951.45 million, a PE ratio of 14.08 and a beta of 0.93. Independence Realty Trust Inc has a one year low of $8.27 and a one year high of $10.76. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.24 and a current ratio of 0.24.

Independence Realty Trust (NYSE:IRT) last issued its earnings results on Thursday, February 21st. The real estate investment trust reported $0.19 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.19. Independence Realty Trust had a net margin of 9.81% and a return on equity of 2.83%. Sell-side analysts anticipate that Independence Realty Trust Inc will post 0.74 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, January 24th. Stockholders of record on Thursday, December 27th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 7.00%. The ex-dividend date of this dividend was Wednesday, December 26th. Independence Realty Trust’s dividend payout ratio (DPR) is presently 98.63%.

ILLEGAL ACTIVITY WARNING: “Independence Realty Trust Inc (IRT) Position Increased by Jennison Associates LLC” was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece of content on another site, it was illegally stolen and republished in violation of United States and international trademark & copyright legislation. The original version of this piece of content can be read at https://www.dispatchtribunal.com/2019/02/22/independence-realty-trust-inc-irt-position-increased-by-jennison-associates-llc.html.

About Independence Realty Trust

Independence Realty Trust (NYSE: IRT) is a real estate investment trust that currently owns and operates 59 multifamily apartment properties, totaling 16,120 units, across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers.

Featured Article: What is a blue-chip stock?

Institutional Ownership by Quarter for Independence Realty Trust (NYSE:IRT)

Receive News & Ratings for Independence Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independence Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.