Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by Pensionfund DSM Netherlands

Pensionfund DSM Netherlands reduced its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 29.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,500 shares of the real estate investment trust’s stock after selling 26,500 shares during the quarter. Pensionfund DSM Netherlands’ holdings in Independence Realty Trust were worth $1,260,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Independence Realty Trust by 0.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,984 shares of the real estate investment trust’s stock worth $2,050,000 after purchasing an additional 526 shares in the last quarter. Handelsbanken Fonder AB increased its position in Independence Realty Trust by 1.3% during the third quarter. Handelsbanken Fonder AB now owns 69,961 shares of the real estate investment trust’s stock worth $1,434,000 after buying an additional 900 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Independence Realty Trust by 0.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 281,800 shares of the real estate investment trust’s stock valued at $5,777,000 after acquiring an additional 900 shares during the period. Arizona State Retirement System grew its position in Independence Realty Trust by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 63,011 shares of the real estate investment trust’s stock worth $1,181,000 after purchasing an additional 1,255 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Independence Realty Trust in the 2nd quarter valued at about $25,000. 88.25% of the stock is owned by hedge funds and other institutional investors.

Independence Realty Trust Stock Down 0.2 %

NYSE IRT traded down $0.03 during mid-day trading on Monday, hitting $19.89. The stock had a trading volume of 85,188 shares, compared to its average volume of 814,570. The company has a 50 day simple moving average of $20.73 and a 200 day simple moving average of $19.98. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 76.50, a P/E/G ratio of 3.07 and a beta of 1.21. Independence Realty Trust, Inc. has a 52-week low of $14.07 and a 52-week high of $22.26.

Independence Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Tuesday, December 31st. Independence Realty Trust’s dividend payout ratio (DPR) is presently 246.15%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on IRT shares. Barclays began coverage on shares of Independence Realty Trust in a research note on Tuesday, December 17th. They issued an “equal weight” rating and a $23.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and raised their price target for the company from $19.00 to $21.00 in a report on Friday, November 15th. Finally, JMP Securities upped their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a report on Monday, September 9th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Independence Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.14.

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.