ProShare Advisors LLC Lowers Position in Independence Realty Trust, Inc. (NYSE:IRT)

ProShare Advisors LLC reduced its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 20.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 40,841 shares of the real estate investment trust’s stock after selling 10,676 shares during the period. ProShare Advisors LLC’s holdings in Independence Realty Trust were worth $765,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. raised its stake in shares of Independence Realty Trust by 241.3% during the 2nd quarter. Sei Investments Co. now owns 735,304 shares of the real estate investment trust’s stock worth $13,780,000 after buying an additional 519,841 shares in the last quarter. AE Wealth Management LLC grew its holdings in Independence Realty Trust by 44.6% during the second quarter. AE Wealth Management LLC now owns 31,621 shares of the real estate investment trust’s stock worth $593,000 after acquiring an additional 9,754 shares during the period. Intech Investment Management LLC purchased a new position in Independence Realty Trust in the second quarter worth $226,000. Concorde Asset Management LLC raised its position in Independence Realty Trust by 23.5% in the second quarter. Concorde Asset Management LLC now owns 30,176 shares of the real estate investment trust’s stock worth $565,000 after acquiring an additional 5,747 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Independence Realty Trust by 6.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 42,970 shares of the real estate investment trust’s stock valued at $804,000 after acquiring an additional 2,624 shares during the period. Institutional investors and hedge funds own 88.25% of the company’s stock.

Analyst Ratings Changes

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

Independence Realty Trust Stock Performance

Shares of NYSE:IRT opened at $20.49 on Friday. The business’s fifty day moving average price is $19.96 and its two-hundred day moving average price is $17.98. The stock has a market cap of $4.61 billion, a PE ratio of -683.00, a price-to-earnings-growth ratio of 3.10 and a beta of 1.17. Independence Realty Trust, Inc. has a one year low of $11.61 and a one year high of $21.20.

Independence Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Monday, September 30th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Monday, September 30th. Independence Realty Trust’s payout ratio is currently -2,133.33%.

Independence Realty Trust 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.