Wellington Management Group LLP Decreases Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Wellington Management Group LLP cut its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 6.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,450,406 shares of the real estate investment trust’s stock after selling 168,503 shares during the period. Wellington Management Group LLP owned about 1.09% of Independence Realty Trust worth $37,491,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in Independence Realty Trust in the 4th quarter valued at about $52,048,000. Waterfront Capital Partners LLC lifted its holdings in Independence Realty Trust by 895.1% in the 4th quarter. Waterfront Capital Partners LLC now owns 1,988,154 shares of the real estate investment trust’s stock valued at $30,419,000 after purchasing an additional 1,788,354 shares in the last quarter. Centersquare Investment Management LLC lifted its holdings 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 purchasing an additional 1,371,851 shares in the last quarter. Jennison Associates LLC lifted its holdings in Independence Realty Trust by 29.5% in the 4th quarter. Jennison Associates LLC now owns 4,129,313 shares of the real estate investment trust’s stock valued at $63,178,000 after purchasing an additional 941,676 shares in the last quarter. Finally, Peregrine Capital Management LLC purchased a new position in Independence Realty Trust in the 4th quarter valued at about $7,728,000. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Independence Realty Trust Price Performance

NYSE IRT opened at $18.10 on Monday. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $18.56. The company has a 50-day moving average of $16.73 and a 200-day moving average of $15.83. The company has a market cap of $4.07 billion, a P/E ratio of -603.13, a P/E/G ratio of 2.65 and a beta of 1.12.

Independence Realty Trust Dividend Announcement

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

Independence Realty Trust Company 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.