Fisher Asset Management LLC Trims Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Fisher Asset Management LLC cut its position in Independence Realty Trust, Inc. (NYSE:IRT) by 15.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,000,157 shares of the real estate investment trust’s stock after selling 378,999 shares during the quarter. Fisher Asset Management LLC owned approximately 0.89% of Independence Realty Trust worth $30,602,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in IRT. Penserra Capital Management LLC boosted its stake in shares of Independence Realty Trust by 2.5% during the third quarter. Penserra Capital Management LLC now owns 31,415 shares of the real estate investment trust’s stock worth $441,000 after buying an additional 774 shares during the period. Lindbrook Capital LLC lifted its position in Independence Realty Trust by 19.8% during the 4th quarter. Lindbrook Capital LLC now owns 6,379 shares of the real estate investment trust’s stock worth $98,000 after acquiring an additional 1,054 shares during the period. Bailard Inc. grew its stake in shares of Independence Realty Trust by 6.5% in the 4th quarter. Bailard Inc. now owns 18,215 shares of the real estate investment trust’s stock valued at $279,000 after purchasing an additional 1,115 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Independence Realty Trust by 37.0% in the fourth quarter. Allworth Financial LP now owns 4,237 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 1,145 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of Independence Realty Trust by 83.9% during the fourth quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 1,183 shares during the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Trading Up 1.3 %

Shares of Independence Realty Trust stock opened at $18.16 on Tuesday. The company has a 50-day moving average of $16.59 and a two-hundred day moving average of $15.72. Independence Realty Trust, Inc. has a 12-month low of $11.61 and a 12-month high of $18.56. The stock has a market cap of $4.09 billion, a PE ratio of -604.97, a price-to-earnings-growth ratio of 2.63 and a beta of 1.12.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, June 28th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.53%. The ex-dividend date is Friday, June 28th. Independence Realty Trust’s payout ratio is currently -2,132.62%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barclays dropped their price objective on shares of Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 20th. TheStreet downgraded shares of Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. Finally, JMP Securities lifted their price objective on Independence Realty Trust from $15.00 to $17.00 and gave the company a “market outperform” rating in a report on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.00.

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.