Thrivent Financial for Lutherans Has $13.52 Million Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Thrivent Financial for Lutherans decreased its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 81.6% in the 2nd quarter, Holdings Channel reports. The firm owned 721,291 shares of the real estate investment trust’s stock after selling 3,193,765 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Independence Realty Trust were worth $13,517,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in IRT. Dimensional Fund Advisors LP raised its holdings in Independence Realty Trust by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,212,828 shares of the real estate investment trust’s stock worth $49,158,000 after purchasing an additional 19,060 shares during the last quarter. Norges Bank bought a new position in Independence Realty Trust during the 4th quarter worth approximately $52,048,000. Franklin Resources Inc. raised its holdings in Independence Realty Trust by 10.0% during the 4th quarter. Franklin Resources Inc. now owns 235,507 shares of the real estate investment trust’s stock worth $3,603,000 after purchasing an additional 21,488 shares during the last quarter. SageView Advisory Group LLC bought a new position in Independence Realty Trust during the 4th quarter worth approximately $297,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Independence Realty Trust by 1.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 253,900 shares of the real estate investment trust’s stock worth $3,885,000 after purchasing an additional 3,900 shares during the last quarter. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Down 0.6 %

Shares of IRT opened at $21.02 on Wednesday. The business’s 50-day moving average price is $19.87 and its 200-day moving average price is $17.91. Independence Realty Trust, Inc. has a twelve month low of $11.61 and a twelve month high of $21.20. The stock has a market cap of $4.73 billion, a PE ratio of -700.67, a P/E/G ratio of 3.00 and a beta of 1.17.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Monday, September 30th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Monday, September 30th. Independence Realty Trust’s dividend payout ratio is presently -2,133.33%.

Analyst Upgrades and Downgrades

IRT has been the subject of several research analyst reports. BTIG Research lifted their price objective on shares of Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, August 12th. JMP Securities lifted their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a research note on Monday, September 9th. KeyCorp lifted their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Two analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.57.

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.