Independence Realty Trust, Inc. (NYSE:IRT) Holdings Reduced by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 15.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,000,157 shares of the real estate investment trust’s stock after selling 378,999 shares during the period. Fisher Asset Management LLC’s holdings in Independence Realty Trust were worth $30,602,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Peregrine Capital Management LLC bought a new position in Independence Realty Trust during the 4th quarter valued at $7,728,000. Aurora Investment Managers LLC. increased its position in shares of Independence Realty Trust by 62.8% in the fourth quarter. Aurora Investment Managers LLC. now owns 33,382 shares of the real estate investment trust’s stock worth $511,000 after acquiring an additional 12,876 shares in the last quarter. Lighthouse Investment Partners LLC lifted its holdings in shares of Independence Realty Trust by 22.9% in the fourth quarter. Lighthouse Investment Partners LLC now owns 725,000 shares of the real estate investment trust’s stock valued at $11,092,000 after purchasing an additional 135,000 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in Independence Realty Trust by 19.3% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,960,798 shares of the real estate investment trust’s stock worth $45,300,000 after acquiring an additional 479,379 shares during the period. Finally, Kestra Private Wealth Services LLC purchased a new stake in shares of Independence Realty Trust in the fourth quarter worth approximately $994,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IRT has been the subject of a number of research analyst reports. Barclays cut their target price on shares of 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. JMP Securities increased their price objective on Independence Realty Trust from $15.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday, March 6th. Finally, TheStreet cut shares of Independence Realty Trust from a “c” rating to a “d+” rating in a report on Friday, March 1st. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Independence Realty Trust presently has an average rating of “Hold” and an average target price of $17.00.

Independence Realty Trust Trading Up 1.3 %

IRT stock opened at $18.16 on Tuesday. Independence Realty Trust, Inc. has a 1-year low of $11.61 and a 1-year high of $18.56. The business’s 50 day moving average is $16.59 and its 200-day moving average is $15.72. The firm has a market cap of $4.09 billion, a P/E ratio of -604.97, a P/E/G ratio of 2.63 and a beta of 1.12.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 28th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Friday, June 28th. Independence Realty Trust’s dividend payout ratio (DPR) is -2,132.62%.

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.