Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 72.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,447 shares of the real estate investment trust’s stock after selling 16,850 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Independence Realty Trust were worth $129,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IRT. Wellington Management Group LLP boosted its stake in shares of Independence Realty Trust by 24.4% in the third quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust’s stock valued at $232,900,000 after purchasing an additional 2,225,371 shares during the period. Jennison Associates LLC lifted its holdings in Independence Realty Trust by 4.8% in the 4th quarter. Jennison Associates LLC now owns 6,139,652 shares of the real estate investment trust’s stock worth $121,811,000 after buying an additional 278,959 shares in the last quarter. Geode Capital Management LLC boosted its position in Independence Realty Trust by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,857,943 shares of the real estate investment trust’s stock valued at $120,108,000 after buying an additional 50,788 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Independence Realty Trust by 236.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,027,943 shares of the real estate investment trust’s stock valued at $82,573,000 after acquiring an additional 2,829,247 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Independence Realty Trust by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,500,696 shares of the real estate investment trust’s stock worth $71,764,000 after acquiring an additional 137,464 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IRT has been the subject of a number of analyst reports. JMP Securities reissued a “market outperform” rating and issued a $22.00 price target on shares of Independence Realty Trust in a report on Tuesday. BMO Capital Markets upgraded Independence Realty Trust from an “underperform” rating to a “market perform” rating and increased their target price for the company from $19.00 to $21.00 in a research note on Friday, November 15th. Finally, Barclays decreased their price target on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Independence Realty Trust has an average rating of “Moderate Buy” and an average price target of $20.86.

Independence Realty Trust Stock Up 2.1 %

Shares of IRT stock opened at $20.50 on Friday. Independence Realty Trust, Inc. has a 12 month low of $14.35 and a 12 month high of $22.26. The firm has a market cap of $4.61 billion, a PE ratio of 62.11, a price-to-earnings-growth ratio of 2.77 and a beta of 1.21. The stock has a 50 day moving average of $19.78 and a 200-day moving average of $20.06.

Independence Realty Trust (NYSE:IRT) last released its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.24. Independence Realty Trust had a negative return on equity of 0.01% and a negative net margin of 0.03%. As a group, equities analysts predict that Independence Realty Trust, Inc. will post 1.15 EPS for the current fiscal year.

Independence Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.12%. Independence Realty Trust’s payout ratio is 193.94%.

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.