19,623 Shares in Independence Realty Trust, Inc. (NYSE:IRT) Purchased by SageView Advisory Group LLC

SageView Advisory Group LLC bought a new stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,623 shares of the real estate investment trust’s stock, valued at approximately $297,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IRT. Fifth Third Bancorp raised its stake in Independence Realty Trust by 83.9% in the 4th quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 1,183 shares during the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Independence Realty Trust in the fourth quarter valued at about $60,000. Allworth Financial LP lifted its stake in shares of Independence Realty Trust by 37.0% in the fourth quarter. Allworth Financial LP now owns 4,237 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 1,145 shares in the last quarter. Sound Income Strategies LLC boosted its position in Independence Realty Trust by 36.1% during the fourth quarter. Sound Income Strategies LLC now owns 4,850 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 1,287 shares during the last quarter. Finally, Lindbrook Capital LLC grew its stake in Independence Realty Trust by 19.8% during the 4th quarter. Lindbrook Capital LLC now owns 6,379 shares of the real estate investment trust’s stock valued at $98,000 after acquiring an additional 1,054 shares in the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

IRT stock opened at $18.19 on Thursday. Independence Realty Trust, Inc. has a one year low of $11.61 and a one year high of $18.56. The firm has a market cap of $4.09 billion, a PE ratio of -606.13, a PEG ratio of 2.66 and a beta of 1.12. The firm’s 50 day moving average price is $16.65 and its 200-day moving average price is $15.77.

Independence Realty Trust Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.64 dividend on an annualized basis and a yield of 3.52%. Independence Realty Trust’s dividend payout ratio is currently -2,132.62%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IRT. JMP Securities upped their price target on Independence Realty Trust from $15.00 to $17.00 and gave the company a “market outperform” rating in a research report on Wednesday, March 6th. TheStreet cut Independence Realty Trust from a “c” rating to a “d+” rating in a report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.00.

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.