Pacer Advisors Inc. Lowers Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Pacer Advisors Inc. lowered its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 20.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,504 shares of the real estate investment trust’s stock after selling 8,535 shares during the quarter. Pacer Advisors Inc.’s holdings in Independence Realty Trust were worth $665,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hilton Capital Management LLC purchased a new position in shares of Independence Realty Trust in the third quarter valued at approximately $7,573,000. SMART Wealth LLC purchased a new position in shares of Independence Realty Trust in the third quarter valued at approximately $873,000. Barclays PLC increased its holdings in shares of Independence Realty Trust by 182.3% in the third quarter. Barclays PLC now owns 400,376 shares of the real estate investment trust’s stock valued at $8,208,000 after purchasing an additional 258,549 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Independence Realty Trust by 38.0% in the third quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust’s stock valued at $51,150,000 after purchasing an additional 686,630 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Independence Realty Trust in the third quarter valued at approximately $1,594,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Down 0.1 %

IRT stock opened at $19.20 on Tuesday. The business has a fifty day moving average of $20.08 and a two-hundred day moving average of $20.02. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 2.68 and a beta of 1.21. Independence Realty Trust, Inc. has a 52-week low of $14.07 and a 52-week high of $22.26.

Independence Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.64 annualized dividend and a yield of 3.33%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IRT. BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and increased their price target for the company from $19.00 to $21.00 in a report on Friday, November 15th. Barclays cut their price target on Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.86.

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.