Centersquare Investment Management LLC Reduces Position in Independence Realty Trust, Inc. (NYSE:IRT)

Centersquare Investment Management LLC cut its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 20.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,000 shares of the real estate investment trust's stock after selling 20,000 shares during the quarter. Centersquare Investment Management LLC's holdings in Independence Realty Trust were worth $1,567,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in shares of Independence Realty Trust by 17.9% in the 4th quarter. Wellington Management Group LLP now owns 13,398,947 shares of the real estate investment trust's stock worth $265,835,000 after purchasing an additional 2,037,968 shares during the period. Jennison Associates LLC grew its holdings in Independence Realty Trust by 4.8% during 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 acquiring an additional 278,959 shares during the period. Geode Capital Management LLC grew its holdings in Independence Realty Trust by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,857,943 shares of the real estate investment trust's stock worth $120,108,000 after acquiring an additional 50,788 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Independence Realty Trust by 8.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,380,250 shares of the real estate investment trust's stock valued at $86,904,000 after purchasing an additional 352,307 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Independence Realty Trust by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,561,615 shares of the real estate investment trust's stock valued at $70,662,000 after purchasing an additional 60,919 shares during the period. Institutional investors own 88.25% of the company's stock.

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Independence Realty Trust Stock Down 7.5 %

NYSE IRT traded down $1.55 on Friday, reaching $19.00. The company had a trading volume of 3,371,356 shares, compared to its average volume of 2,139,087. The stock has a market capitalization of $4.39 billion, a P/E ratio of 105.56, a P/E/G ratio of 2.91 and a beta of 0.98. The company's fifty day moving average is $20.54 and its 200 day moving average is $20.31. Independence Realty Trust, Inc. has a 52-week low of $15.27 and a 52-week high of $22.26.

Independence Realty Trust (NYSE:IRT - Get Free Report) last released its quarterly earnings results 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 net margin of 6.15% and a return on equity of 1.11%. On average, research analysts expect that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

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 paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a yield of 3.37%. Independence Realty Trust's dividend payout ratio (DPR) is presently 355.56%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IRT. JMP Securities reissued a "market outperform" rating and issued a $22.00 price target on shares of Independence Realty Trust in a research note 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. Jefferies Financial Group raised Independence Realty Trust from a "hold" rating to a "buy" rating and upped their price target for the stock from $20.00 to $24.00 in a research note on Monday, March 10th. Finally, Wells Fargo & Company started coverage on Independence Realty Trust in a report on Wednesday, March 19th. They set an "overweight" rating and a $24.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $22.00.

Insider Activity

In other Independence Realty Trust news, CEO Scott Schaeffer sold 10,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $21.21, for a total value of $212,100.00. Following the transaction, the chief executive officer now directly owns 873,365 shares in the company, valued at $18,524,071.65. The trade was a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.58% of the company's stock.

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.