Harbour Investments Inc. Sells 4,616 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Harbour Investments Inc. cut its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 10.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,645 shares of the real estate investment trust’s stock after selling 4,616 shares during the quarter. Harbour Investments Inc.’s holdings in Independence Realty Trust were worth $705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of IRT. Raymond James & Associates purchased a new stake in Independence Realty Trust in the fourth quarter worth about $158,000. International Assets Investment Management LLC purchased a new position in shares of Independence Realty Trust during the fourth quarter valued at approximately $2,230,000. CWM LLC lifted its holdings in shares of Independence Realty Trust by 7.1% during the fourth quarter. CWM LLC now owns 33,878 shares of the real estate investment trust’s stock valued at $518,000 after purchasing an additional 2,236 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Independence Realty Trust by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 281,438 shares of the real estate investment trust’s stock valued at $4,306,000 after purchasing an additional 1,232 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Independence Realty Trust by 19.7% during the fourth quarter. Van ECK Associates Corp now owns 31,627 shares of the real estate investment trust’s stock valued at $484,000 after purchasing an additional 5,200 shares during the last quarter. 88.25% of the stock is owned by institutional investors.

Independence Realty Trust Trading Up 0.6 %

NYSE:IRT opened at $20.55 on Thursday. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $20.68. The company has a market cap of $4.63 billion, a PE ratio of -685.00, a price-to-earnings-growth ratio of 2.81 and a beta of 1.14. The company has a 50 day simple moving average of $19.09 and a two-hundred day simple moving average of $17.17.

Independence Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, June 28th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Friday, June 28th. Independence Realty Trust’s dividend payout ratio (DPR) is presently -2,133.33%.

Wall Street Analysts Forecast Growth

IRT has been the subject of a number of recent analyst reports. BTIG Research boosted their price objective on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 12th. JMP Securities boosted their price objective on shares of Independence Realty Trust from $17.00 to $20.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, Independence Realty Trust presently has an average rating of “Hold” and a consensus target price of $18.17.

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.