Thrivent Financial for Lutherans Sells 351,602 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Thrivent Financial for Lutherans lowered its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 47.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 394,328 shares of the real estate investment trust's stock after selling 351,602 shares during the quarter. Thrivent Financial for Lutherans owned about 0.18% of Independence Realty Trust worth $7,823,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Global Retirement Partners LLC grew its position in Independence Realty Trust by 66.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 521 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in shares of Independence Realty Trust by 627.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust's stock valued at $46,000 after buying an additional 2,008 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Independence Realty Trust by 67.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 1,000 shares during the period. Blue Trust Inc. grew its position in Independence Realty Trust by 33.9% during the fourth quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust's stock worth $56,000 after buying an additional 692 shares in the last quarter. Finally, Avior Wealth Management LLC increased its stake in Independence Realty Trust by 437.8% during the third quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust's stock valued at $62,000 after acquiring an additional 2,443 shares during the period. 88.25% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of analysts have commented on IRT shares. Wells Fargo & Company began coverage on Independence Realty Trust in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $24.00 price objective for the company. JMP Securities reaffirmed a "market outperform" rating and issued a $22.00 target price on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Jefferies Financial Group raised shares of Independence Realty Trust from a "hold" rating to a "buy" rating and boosted their price target for the company from $20.00 to $24.00 in a report on Monday, March 10th. Finally, Barclays reduced their price objective on shares of Independence Realty Trust from $21.00 to $20.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $22.00.

Independence Realty Trust Stock Up 0.1 %

Independence Realty Trust stock traded up $0.02 during mid-day trading on Thursday, hitting $20.98. 1,694,573 shares of the company were exchanged, compared to its average volume of 2,009,027. Independence Realty Trust, Inc. has a 1-year low of $15.25 and a 1-year high of $22.26. The business has a fifty day moving average of $20.27 and a 200 day moving average of $20.31. The company has a market capitalization of $4.84 billion, a PE ratio of 116.53, a price-to-earnings-growth 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 earnings per share (EPS) 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%. Research analysts expect that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, March 28th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Friday, March 28th. Independence Realty Trust's payout ratio is currently 355.56%.

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.