IFP Advisors Inc Has $64,000 Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

IFP Advisors Inc cut its position in Independence Realty Trust, Inc. (NYSE:IRT) by 35.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,242 shares of the real estate investment trust’s stock after selling 1,750 shares during the period. IFP Advisors Inc’s holdings in Independence Realty Trust were worth $64,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of IRT. Massachusetts Financial Services Co. MA raised its holdings in Independence Realty Trust by 236.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,027,943 shares of the real estate investment trust’s stock worth $82,573,000 after purchasing an additional 2,829,247 shares during the period. Wellington Management Group LLP raised its holdings in shares of Independence Realty Trust by 24.4% during the third quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust’s stock worth $232,900,000 after acquiring an additional 2,225,371 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Independence Realty Trust by 419.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,433,058 shares of the real estate investment trust’s stock worth $29,378,000 after acquiring an additional 1,157,052 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Independence Realty Trust by 38.0% during the third quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust’s stock worth $51,150,000 after acquiring an additional 686,630 shares during the period. Finally, Easterly Investment Partners LLC acquired a new stake in shares of Independence Realty Trust during the third quarter worth $11,132,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IRT. JMP Securities restated a “market outperform” rating and set a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday, February 11th. Barclays dropped their price objective 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. Finally, BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $19.00 to $21.00 in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.33.

Independence Realty Trust Trading Up 0.7 %

Independence Realty Trust stock opened at $21.48 on Thursday. The company has a market cap of $4.96 billion, a P/E ratio of 119.31, a price-to-earnings-growth ratio of 2.91 and a beta of 1.18. Independence Realty Trust, Inc. has a 1-year low of $15.23 and a 1-year high of $22.26. The company has a fifty day simple moving average of $19.80 and a 200 day simple moving average of $20.23.

Independence Realty Trust (NYSE:IRT) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.24. Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.11%. On average, equities research analysts forecast that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Tuesday, December 31st. Independence Realty Trust’s dividend payout ratio (DPR) is presently 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.