Principal Financial Group Inc. Sells 52,303 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Principal Financial Group Inc. decreased its stake in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 6.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 701,302 shares of the real estate investment trust's stock after selling 52,303 shares during the quarter. Principal Financial Group Inc. owned about 0.31% of Independence Realty Trust worth $14,377,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC bought a new stake in Independence Realty Trust in the second quarter worth $25,000. Mattson Financial Services LLC bought a new stake in shares of Independence Realty Trust in the 2nd quarter worth about $28,000. V Square Quantitative Management LLC bought a new stake in shares of Independence Realty Trust in the 3rd quarter worth about $28,000. Pathway Financial Advisers LLC purchased a new position in shares of Independence Realty Trust during the 1st quarter worth about $31,000. Finally, Blue Trust Inc. grew its holdings in Independence Realty Trust by 295.9% during the 3rd quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust's stock valued at $38,000 after purchasing an additional 1,527 shares during the last quarter. Institutional investors own 88.25% of the company's stock.

Independence Realty Trust Stock Up 0.7 %

Shares of NYSE IRT opened at $20.99 on Friday. Independence Realty Trust, Inc. has a twelve month low of $12.99 and a twelve month high of $21.23. The firm has a market cap of $4.72 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 3.00 and a beta of 1.17. The business has a fifty day simple moving average of $20.14 and a two-hundred day simple moving average of $18.99.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were issued a $0.16 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.64 annualized dividend and a dividend yield of 3.05%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. KeyCorp raised their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft raised their price target on Independence Realty Trust from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, September 10th. BTIG Research upped their price objective on Independence Realty Trust from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Monday, August 12th. BMO Capital Markets upgraded Independence Realty Trust from an "underperform" rating to a "market perform" rating and increased their target price for the stock from $19.00 to $21.00 in a research note on Friday. Finally, JMP Securities boosted their target price on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company a "market outperform" rating in a research note on Monday, September 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $20.43.

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.