Inceptionr LLC Sells 18,783 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Inceptionr LLC cut its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 46.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,821 shares of the real estate investment trust's stock after selling 18,783 shares during the period. Inceptionr LLC's holdings in Independence Realty Trust were worth $433,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of IRT. Wellington Management Group LLP boosted its position 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 worth $232,900,000 after purchasing an additional 2,225,371 shares during the period. Jennison Associates LLC lifted its stake in shares of 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 valued at $121,811,000 after buying an additional 278,959 shares in the last quarter. Geode Capital Management LLC increased its stake 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 worth $120,108,000 after buying an additional 50,788 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Independence Realty Trust by 236.0% in the 3rd 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 buying an additional 2,829,247 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Independence Realty Trust by 1.7% during the fourth 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 acquiring 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 1.1 %

IRT traded down $0.22 on Wednesday, hitting $20.60. The company had a trading volume of 1,269,322 shares, compared to its average volume of 2,011,693. The business's fifty day simple moving average is $19.88 and its 200 day simple moving average is $20.27. 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 cap of $4.76 billion, a PE ratio of 114.43, a PEG ratio of 2.91 and a beta of 1.19.

Independence Realty Trust (NYSE:IRT - Get Free Report) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts' consensus estimates 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 anticipate that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Dividend Announcement

The company also recently announced 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 3.11%. The ex-dividend date is Friday, March 28th. Independence Realty Trust's dividend payout ratio is currently 355.56%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Barclays lowered their price target on 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 upgraded shares of Independence Realty Trust from a "hold" rating to a "buy" rating and lifted their price objective for the company from $20.00 to $24.00 in a research report on Monday. JMP Securities restated a "market outperform" rating and set a $22.00 target price on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Finally, BMO Capital Markets upgraded shares of Independence Realty Trust from an "underperform" rating to a "market perform" rating and lifted their price target for the company from $19.00 to $21.00 in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.71.

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.