Jump Financial LLC Cuts Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Jump Financial LLC lowered its position in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 46.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 149,458 shares of the real estate investment trust's stock after selling 130,032 shares during the quarter. Jump Financial LLC owned 0.07% of Independence Realty Trust worth $2,965,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Global Retirement Partners LLC lifted its stake in shares of Independence Realty Trust by 66.0% during the 4th 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 in the last quarter. SRS Capital Advisors Inc. grew 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 worth $46,000 after purchasing an additional 2,008 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Independence Realty Trust by 67.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 1,000 shares during the period. Blue Trust Inc. boosted its stake in 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 worth $56,000 after purchasing an additional 692 shares during the period. Finally, Venturi Wealth Management LLC purchased a new stake in Independence Realty Trust during the 4th quarter valued at approximately $70,000. 88.25% of the stock is currently owned by institutional investors.

Insider Activity

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

Analyst Ratings Changes

Several equities analysts have recently commented on IRT shares. Jefferies Financial Group raised shares of Independence Realty Trust from a "hold" rating to a "buy" rating and boosted their target price for the stock from $20.00 to $24.00 in a report on Monday, March 10th. Wells Fargo & Company started coverage on Independence Realty Trust in a research report on Wednesday, March 19th. They set an "overweight" rating and a $24.00 price objective for the company. Barclays upped their price objective on Independence Realty Trust from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. UBS Group initiated coverage on Independence Realty Trust in a research report on Monday, April 7th. They issued a "buy" rating and a $24.00 price target for the company. Finally, JMP Securities reissued 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 investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.33.

Independence Realty Trust Price Performance

IRT stock traded up $0.59 during mid-day trading on Tuesday, reaching $19.50. The company had a trading volume of 560,704 shares, compared to its average volume of 2,106,612. The firm has a 50 day moving average of $20.29 and a 200 day moving average of $20.14. Independence Realty Trust, Inc. has a 12 month low of $15.27 and a 12 month high of $22.26. The company has a market capitalization of $4.51 billion, a PE ratio of 108.38, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98.

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 for the quarter, beating 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%. Analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Friday, March 28th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Friday, March 28th. Independence Realty Trust's dividend payout ratio (DPR) is 355.56%.

Independence Realty Trust 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.