Hilton Capital Management LLC cut its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 355,012 shares of the real estate investment trust's stock after selling 14,403 shares during the period. Hilton Capital Management LLC owned approximately 0.16% of Independence Realty Trust worth $7,043,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC boosted its position in shares of Independence Realty Trust by 66.0% during 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 buying an additional 521 shares during the last quarter. Assetmark Inc. purchased a new stake in shares of Independence Realty Trust during the third quarter valued at $41,000. SRS Capital Advisors Inc. boosted its position in shares of Independence Realty Trust by 627.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust's stock valued at $46,000 after buying an additional 2,008 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Independence Realty Trust by 67.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 1,000 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Independence Realty Trust by 33.9% during the fourth quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust's stock valued at $56,000 after buying an additional 692 shares during the last quarter. 88.25% of the stock is owned by hedge funds and other institutional investors.
Independence Realty Trust Stock Performance
Shares of NYSE IRT traded down $0.19 during trading on Tuesday, hitting $20.81. The company had a trading volume of 1,875,175 shares, compared to its average volume of 2,009,412. The stock has a 50 day simple moving average of $19.97 and a 200 day simple moving average of $20.28. Independence Realty Trust, Inc. has a 12 month low of $15.23 and a 12 month high of $22.26. The firm has a market capitalization of $4.81 billion, a P/E ratio of 115.62, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19.
Independence Realty Trust (NYSE:IRT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS 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, analysts predict that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.
Independence Realty Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, March 28th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, March 28th. Independence Realty Trust's dividend payout ratio (DPR) is currently 355.56%.
Analysts Set New Price Targets
Several equities research analysts recently commented on IRT shares. JMP Securities reaffirmed a "market outperform" rating and set a $22.00 price objective on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Barclays dropped their target price on Independence Realty Trust from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 19th. Finally, Jefferies Financial Group raised Independence Realty Trust from a "hold" rating to a "buy" rating and raised their target price for the stock from $20.00 to $24.00 in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $21.71.
Get Our Latest Stock Report on IRT
About Independence Realty Trust
(
Free Report)
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.
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