Fisher Asset Management LLC Lowers Position in Independence Realty Trust, Inc. (NYSE:IRT)

Fisher Asset Management LLC lessened its holdings in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,941,952 shares of the real estate investment trust's stock after selling 43,990 shares during the quarter. Fisher Asset Management LLC owned 0.86% of Independence Realty Trust worth $38,528,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Global Retirement Partners LLC raised its stake 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 worth $26,000 after purchasing an additional 521 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Independence Realty Trust by 0.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,984 shares of the real estate investment trust's stock worth $2,050,000 after buying an additional 526 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Independence Realty Trust by 0.5% during the 4th quarter. State of Alaska Department of Revenue now owns 133,831 shares of the real estate investment trust's stock valued at $2,654,000 after acquiring an additional 643 shares during the period. Blue Trust Inc. boosted its holdings in shares of Independence Realty Trust by 33.9% in the 4th quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust's stock valued at $56,000 after acquiring an additional 692 shares during the last quarter. Finally, Sound Income Strategies LLC increased its stake in shares of Independence Realty Trust by 20.5% in the fourth quarter. Sound Income Strategies LLC now owns 4,295 shares of the real estate investment trust's stock worth $85,000 after acquiring an additional 732 shares during the period. Hedge funds and other institutional investors own 88.25% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts recently commented on IRT shares. BMO Capital Markets raised Independence Realty Trust from an "underperform" rating to a "market perform" rating and raised their target price for the stock from $19.00 to $21.00 in a report on Friday, November 15th. 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 research note on Wednesday, February 19th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $22.00 target price on shares of Independence Realty Trust in a research note on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $21.33.

Independence Realty Trust Stock Performance

Shares of IRT stock traded down $0.55 during trading hours on Thursday, reaching $20.89. The company had a trading volume of 668,481 shares, compared to its average volume of 1,840,989. Independence Realty Trust, Inc. has a 12-month low of $15.23 and a 12-month high of $22.26. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 116.08, a PEG ratio of 2.91 and a beta of 1.18. The stock has a fifty day moving average of $19.80 and a 200-day moving average of $20.23.

Independence Realty Trust (NYSE:IRT - Get Free Report) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating 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%. On average, 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 declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.16 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.06%. Independence Realty Trust's dividend payout ratio is currently 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.