Xponance Inc. Has $569,000 Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Xponance Inc. trimmed its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 5.9% during the second quarter, Holdings Channel.com reports. The firm owned 30,369 shares of the real estate investment trust’s stock after selling 1,920 shares during the period. Xponance Inc.’s holdings in Independence Realty Trust were worth $569,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in Independence Realty Trust by 10.0% during the fourth quarter. Franklin Resources Inc. now owns 235,507 shares of the real estate investment trust’s stock worth $3,603,000 after buying an additional 21,488 shares during the last quarter. Evoke Wealth LLC purchased a new position in shares of Independence Realty Trust during the fourth quarter valued at approximately $859,000. Belpointe Asset Management LLC grew its holdings in Independence Realty Trust by 7.8% during the fourth quarter. Belpointe Asset Management LLC now owns 22,872 shares of the real estate investment trust’s stock worth $350,000 after buying an additional 1,655 shares in the last quarter. Centersquare Investment Management LLC raised its position in Independence Realty Trust by 164.5% in the 4th quarter. Centersquare Investment Management LLC now owns 2,205,569 shares of the real estate investment trust’s stock valued at $33,745,000 after buying an additional 1,371,851 shares during the last quarter. Finally, Verition Fund Management LLC lifted its stake in Independence Realty Trust by 707.1% during 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 acquiring an additional 420,451 shares in the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IRT. KeyCorp upped their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. JMP Securities upped their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Monday, September 9th. BTIG Research lifted their target price on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Independence Realty Trust has an average rating of “Moderate Buy” and a consensus target price of $19.57.

Independence Realty Trust Stock Performance

Shares of IRT stock opened at $20.49 on Monday. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of -683.00, a P/E/G ratio of 3.10 and a beta of 1.17. Independence Realty Trust, Inc. has a 52 week low of $11.61 and a 52 week high of $21.20. The firm’s 50-day simple moving average is $19.96 and its two-hundred day simple moving average is $18.01.

Independence Realty Trust Dividend Announcement

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

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.