Vanguard Group Inc. Sells 110,807 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Vanguard Group Inc. cut its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,400,936 shares of the real estate investment trust’s stock after selling 110,807 shares during the period. Vanguard Group Inc. owned approximately 0.14% of Independence Realty Trust worth $495,734,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. SageView Advisory Group LLC bought a new position in shares of Independence Realty Trust in the 4th quarter worth about $297,000. First Financial Bankshares Inc acquired a new stake in shares of Independence Realty Trust in the 4th quarter valued at about $617,000. Frontier Capital Management Co. LLC grew its stake in shares of Independence Realty Trust by 19.3% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,960,798 shares of the real estate investment trust’s stock valued at $45,300,000 after buying an additional 479,379 shares during the period. Lighthouse Investment Partners LLC grew its stake in shares of Independence Realty Trust by 22.9% in the 4th quarter. Lighthouse Investment Partners LLC now owns 725,000 shares of the real estate investment trust’s stock valued at $11,092,000 after buying an additional 135,000 shares during the period. Finally, Verition Fund Management LLC grew its stake in shares of Independence Realty Trust by 707.1% in the 4th quarter. Verition Fund Management LLC now owns 479,916 shares of the real estate investment trust’s stock valued at $7,343,000 after buying an additional 420,451 shares during the period. 88.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IRT has been the subject of several research reports. TheStreet downgraded Independence Realty Trust from a “c” rating to a “d+” rating in a research note on Friday, March 1st. JMP Securities raised their target price on Independence Realty Trust from $15.00 to $17.00 and gave the company a “market outperform” rating in a research note on Wednesday, March 6th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Independence Realty Trust currently has a consensus rating of “Hold” and a consensus target price of $17.00.

Independence Realty Trust Stock Performance

IRT stock opened at $18.25 on Wednesday. The company has a market capitalization of $4.11 billion, a P/E ratio of -608.13, a price-to-earnings-growth ratio of 2.65 and a beta of 1.12. Independence Realty Trust, Inc. has a 52-week low of $11.61 and a 52-week high of $18.56. The business has a 50-day simple moving average of $16.83 and a two-hundred day simple moving average of $15.89.

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 paid a dividend of $0.16 per share. The ex-dividend date is Friday, June 28th. This represents a $0.64 dividend on an annualized basis and a yield of 3.51%. Independence Realty Trust’s dividend payout ratio (DPR) is currently -2,132.62%.

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.