Inspire Investing LLC Sells 3,290 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Inspire Investing LLC reduced its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 14.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,848 shares of the real estate investment trust’s stock after selling 3,290 shares during the quarter. Inspire Investing LLC’s holdings in Independence Realty Trust were worth $353,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC bought a new position in Independence Realty Trust during the 2nd quarter worth approximately $25,000. Pathway Financial Advisers LLC bought a new position in shares of Independence Realty Trust in the first quarter worth approximately $31,000. Lazard Asset Management LLC purchased a new position in shares of Independence Realty Trust in the first quarter worth $40,000. Advisors Asset Management Inc. increased its stake in shares of Independence Realty Trust by 146.6% in the first quarter. Advisors Asset Management Inc. now owns 2,833 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 1,684 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new stake in Independence Realty Trust during the 2nd quarter valued at $64,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Wall Street Analysts Forecast Growth

IRT has been the topic of a number of recent analyst reports. JMP Securities raised their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a report on Monday, September 9th. KeyCorp boosted their price target on Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Deutsche Bank Aktiengesellschaft increased their price objective on Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, BTIG Research boosted their target price on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Independence Realty Trust presently has a consensus rating of “Moderate Buy” and an average price target of $19.57.

Independence Realty Trust Stock Down 0.9 %

Shares of IRT stock opened at $20.92 on Monday. The business’s fifty day moving average is $19.78 and its 200 day moving average is $17.84. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of -697.33, a PEG ratio of 3.00 and a beta of 1.17. Independence Realty Trust, Inc. has a twelve month low of $11.61 and a twelve month high of $21.20.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Monday, September 30th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, September 30th. Independence Realty Trust’s dividend payout ratio is presently -2,133.33%.

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.