HighTower Advisors LLC Sells 12,641 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

HighTower Advisors LLC lessened its position in Independence Realty Trust, Inc. (NYSE:IRT) by 22.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,176 shares of the real estate investment trust’s stock after selling 12,641 shares during the period. HighTower Advisors LLC’s holdings in Independence Realty Trust were worth $876,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC raised its position in shares of Independence Realty Trust by 66.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 521 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Independence Realty Trust by 0.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,984 shares of the real estate investment trust’s stock valued at $2,050,000 after buying an additional 526 shares during the last quarter. Amundi lifted its position in Independence Realty Trust by 0.5% during the fourth quarter. Amundi now owns 122,544 shares of the real estate investment trust’s stock worth $2,304,000 after acquiring an additional 597 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Independence Realty Trust by 0.5% during the fourth quarter. State of Alaska Department of Revenue now owns 133,831 shares of the real estate investment trust’s stock worth $2,654,000 after acquiring an additional 643 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Independence Realty Trust by 33.9% in the fourth quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 692 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on IRT shares. JMP Securities reissued a “market outperform” rating and set a $22.00 price target on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Jefferies Financial Group upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and raised their price target for the stock from $20.00 to $24.00 in a research report on Monday, March 10th. Wells Fargo & Company started coverage on shares of Independence Realty Trust in a research report on Wednesday, March 19th. They set an “overweight” rating and a $24.00 price objective for the company. Finally, Barclays decreased their target price on shares of Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Independence Realty Trust currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Independence Realty Trust Price Performance

Shares of IRT stock opened at $20.98 on Friday. The stock has a market capitalization of $4.84 billion, a PE ratio of 116.53, a PEG ratio of 2.91 and a beta of 1.19. The business’s 50 day simple moving average is $20.31 and its 200 day simple moving average is $20.31. Independence Realty Trust, Inc. has a one year low of $15.25 and a one year high of $22.26.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.24. Independence Realty Trust had a return on equity of 1.11% and a net margin of 6.15%. As a group, research analysts expect that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, March 28th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, March 28th. This represents a $0.64 annualized dividend and a yield of 3.05%. Independence Realty Trust’s payout ratio is 355.56%.

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.