Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by American International Group Inc.

American International Group Inc. trimmed its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 3.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 413,926 shares of the real estate investment trust’s stock after selling 13,054 shares during the quarter. American International Group Inc. owned 0.18% of Independence Realty Trust worth $6,333,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Penserra Capital Management LLC lifted its holdings in Independence Realty Trust by 2.5% in the 3rd quarter. Penserra Capital Management LLC now owns 31,415 shares of the real estate investment trust’s stock valued at $441,000 after acquiring an additional 774 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Independence Realty Trust by 19.8% in the 4th quarter. Lindbrook Capital LLC now owns 6,379 shares of the real estate investment trust’s stock valued at $98,000 after acquiring an additional 1,054 shares during the last quarter. Bailard Inc. lifted its holdings in 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 acquiring an additional 1,115 shares during the last quarter. Allworth Financial LP lifted its holdings in Independence Realty Trust by 37.0% in the 4th quarter. Allworth Financial LP now owns 4,237 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 1,145 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in Independence Realty Trust by 83.9% in the 4th quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 1,183 shares during the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Stock Performance

IRT stock opened at $18.06 on Friday. The firm has a 50 day simple moving average of $16.69 and a 200 day simple moving average of $15.78. Independence Realty Trust, Inc. has a 52 week low of $11.61 and a 52 week high of $18.56. The stock has a market cap of $4.06 billion, a P/E ratio of -601.80, a P/E/G ratio of 2.67 and a beta of 1.12.

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Friday, June 28th. Independence Realty Trust’s dividend payout ratio (DPR) is currently -2,132.62%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IRT. JMP Securities upped their price objective on shares of Independence Realty Trust from $15.00 to $17.00 and gave the company a “market outperform” rating in a research note on Wednesday, March 6th. TheStreet lowered shares of Independence Realty Trust from a “c” rating to a “d+” rating in a research note on Friday, March 1st. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, Independence Realty Trust currently has an average rating of “Hold” and a consensus target price of $17.00.

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.