Mesirow Institutional Investment Management Inc. Lowers Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Mesirow Institutional Investment Management Inc. cut its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 695,330 shares of the real estate investment trust's stock after selling 75,226 shares during the quarter. Mesirow Institutional Investment Management Inc. owned 0.31% of Independence Realty Trust worth $13,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Global Retirement Partners LLC lifted its holdings 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 worth $26,000 after acquiring an additional 521 shares during the last quarter. Amundi raised its stake in shares of Independence Realty Trust by 0.5% during the fourth quarter. Amundi now owns 122,544 shares of the real estate investment trust's stock worth $2,304,000 after acquiring an additional 597 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Independence Realty Trust by 0.5% in the 4th quarter. State of Alaska Department of Revenue now owns 133,831 shares of the real estate investment trust's stock worth $2,654,000 after acquiring an additional 643 shares during the last quarter. Blue Trust Inc. lifted 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 worth $56,000 after acquiring an additional 692 shares during the last quarter. Finally, Ironsides Asset Advisors LLC boosted its stake in shares of Independence Realty Trust by 7.0% in the 4th quarter. Ironsides Asset Advisors LLC now owns 11,070 shares of the real estate investment trust's stock valued at $220,000 after purchasing an additional 725 shares in the last quarter. Hedge funds and other institutional investors own 88.25% of the company's stock.

Independence Realty Trust Price Performance

NYSE:IRT traded up $0.51 during trading hours on Tuesday, hitting $19.42. The company had a trading volume of 1,516,759 shares, compared to its average volume of 2,109,682. The stock has a 50-day moving average price of $20.27 and a 200 day moving average price of $20.13. The company has a market capitalization of $4.49 billion, a PE ratio of 107.89, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98. 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 announced 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 net margin of 6.15% and a return on equity of 1.11%. Analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Friday, March 28th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Friday, March 28th. Independence Realty Trust's dividend payout ratio is currently 355.56%.

Analyst Ratings Changes

Several research firms have weighed in on IRT. Barclays boosted their price target on shares of Independence Realty Trust from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. JMP Securities restated a "market outperform" rating and set a $22.00 target price on shares of Independence Realty Trust in a report on Tuesday, February 11th. Wells Fargo & Company began coverage on Independence Realty Trust in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $24.00 price target on the stock. Jefferies Financial Group raised Independence Realty Trust from a "hold" rating to a "buy" rating and increased their price objective for the company from $20.00 to $24.00 in a research note on Monday, March 10th. Finally, UBS Group assumed coverage on shares of Independence Realty Trust in a research note on Monday, April 7th. They issued a "buy" rating and a $24.00 target price on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Independence Realty Trust has an average rating of "Moderate Buy" and an average target price of $22.33.

Insider Activity

In other Independence Realty Trust news, CEO Scott Schaeffer sold 10,000 shares of the firm'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 transaction, the chief executive officer now owns 873,365 shares of the company's stock, valued at approximately $18,524,071.65. This trade represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.58% of the stock is currently owned by company insiders.

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.