Geneos Wealth Management Inc. Sells 3,027 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Geneos Wealth Management Inc. lessened its holdings in Independence Realty Trust, Inc. (NYSE:IRTFree Report) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,694 shares of the real estate investment trust’s stock after selling 3,027 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Independence Realty Trust were worth $510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC raised its stake in Independence Realty Trust by 20.5% during the fourth quarter. Sound Income Strategies LLC now owns 4,295 shares of the real estate investment trust’s stock worth $85,000 after acquiring an additional 732 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Independence Realty Trust by 18.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,705 shares of the real estate investment trust’s stock valued at $450,000 after buying an additional 3,600 shares in the last quarter. Perpetual Ltd grew its stake in Independence Realty Trust by 38.2% during the fourth quarter. Perpetual Ltd now owns 43,365 shares of the real estate investment trust’s stock worth $860,000 after buying an additional 11,980 shares during the last quarter. Aurora Investment Managers LLC. raised its stake in shares of Independence Realty Trust by 5.9% in the fourth quarter. Aurora Investment Managers LLC. now owns 181,258 shares of the real estate investment trust’s stock valued at $3,596,000 after acquiring an additional 10,043 shares during the last quarter. Finally, Grove Bank & Trust acquired a new position in shares of Independence Realty Trust in the 4th quarter worth approximately $7,636,000. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Down 0.7 %

NYSE:IRT opened at $19.09 on Wednesday. Independence Realty Trust, Inc. has a 12-month low of $14.07 and a 12-month high of $22.26. The firm has a market capitalization of $4.30 billion, a P/E ratio of 56.13, a P/E/G ratio of 2.61 and a beta of 1.21. The stock’s fifty day simple moving average is $20.27 and its 200-day simple moving average is $20.02.

Independence Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Tuesday, December 31st. Independence Realty Trust’s dividend payout ratio is currently 188.24%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on IRT shares. BMO Capital Markets upgraded Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $19.00 to $21.00 in a research report on Friday, November 15th. Barclays dropped their target price on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Independence Realty Trust has a consensus rating of “Moderate Buy” and an average target price of $20.86.

Get Our Latest Research Report on IRT

Independence Realty Trust Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Independence Realty Trust (NYSE:IRT)

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