Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC lowered its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 345,824 shares of the real estate investment trust's stock after selling 12,682 shares during the quarter. Peregrine Capital Management LLC owned about 0.15% of Independence Realty Trust worth $6,861,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Atria Wealth Solutions Inc. acquired a new stake in Independence Realty Trust during the fourth quarter worth about $564,000. Venturi Wealth Management LLC acquired a new position in Independence Realty Trust during the fourth quarter valued at approximately $70,000. Truist Financial Corp lifted its position in Independence Realty Trust by 5.9% during the fourth quarter. Truist Financial Corp now owns 26,714 shares of the real estate investment trust's stock valued at $530,000 after buying an additional 1,499 shares in the last quarter. Principal Financial Group Inc. lifted its position in Independence Realty Trust by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 722,128 shares of the real estate investment trust's stock valued at $14,327,000 after buying an additional 20,826 shares in the last quarter. Finally, Blue Zone Wealth Advisors LLC lifted its position in Independence Realty Trust by 3.6% during the fourth quarter. Blue Zone Wealth Advisors LLC now owns 224,183 shares of the real estate investment trust's stock valued at $4,448,000 after buying an additional 7,756 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on IRT shares. Barclays reduced their price target on shares of Independence Realty Trust from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Wednesday. JMP Securities reiterated a "market outperform" rating and issued a $22.00 price target on shares of Independence Realty Trust in a report on Tuesday, February 11th. Finally, BMO Capital Markets upgraded Independence Realty Trust from an "underperform" rating to a "market perform" rating and increased their price target for the company from $19.00 to $21.00 in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.33.

Independence Realty Trust Stock Performance

Shares of NYSE:IRT traded down $0.31 during trading on Friday, hitting $20.44. The company's stock had a trading volume of 2,705,438 shares, compared to its average volume of 1,818,042. Independence Realty Trust, Inc. has a fifty-two week low of $14.35 and a fifty-two week high of $22.26. The stock's 50-day moving average price is $19.70 and its two-hundred day moving average price is $20.13. The company has a market capitalization of $4.72 billion, a PE ratio of 113.56, a PEG ratio of 2.89 and a beta of 1.21.

Independence Realty Trust (NYSE:IRT - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping 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%. On average, equities analysts predict that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were paid a $0.16 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.13%. Independence Realty Trust's dividend payout ratio (DPR) is presently 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.