International Assets Investment Management LLC Sells 134,523 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

International Assets Investment Management LLC decreased its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 92.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,225 shares of the real estate investment trust’s stock after selling 134,523 shares during the quarter. International Assets Investment Management LLC’s holdings in Independence Realty Trust were worth $176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp raised its holdings in Independence Realty Trust by 83.9% during 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 period. EdgeRock Capital LLC bought a new position in shares of Independence Realty Trust in the fourth quarter worth $60,000. 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 worth $65,000 after purchasing an additional 1,145 shares during the period. Sound Income Strategies LLC increased its holdings in shares of Independence Realty Trust by 36.1% in the fourth quarter. Sound Income Strategies LLC now owns 4,850 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 1,287 shares during the period. Finally, Lindbrook Capital LLC increased its holdings in shares of Independence Realty Trust by 19.8% in the fourth quarter. Lindbrook Capital LLC now owns 6,379 shares of the real estate investment trust’s stock worth $98,000 after purchasing an additional 1,054 shares during the period. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Shares of IRT opened at $18.30 on Thursday. Independence Realty Trust, Inc. has a 1 year low of $11.61 and a 1 year high of $18.56. The stock has a 50 day simple moving average of $16.83 and a two-hundred day simple moving average of $15.89. The firm has a market cap of $4.12 billion, a P/E ratio of -610.00, a P/E/G ratio of 2.67 and a beta of 1.12.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, June 28th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.50%. Independence Realty Trust’s dividend payout ratio (DPR) is -2,133.33%.

Analyst Ratings Changes

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