Prime Capital Investment Advisors LLC Decreases Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Prime Capital Investment Advisors LLC reduced its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 3.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 56,676 shares of the real estate investment trust’s stock after selling 1,859 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Independence Realty Trust were worth $1,162,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Long Pond Capital LP raised its stake in Independence Realty Trust by 204.7% during the first quarter. Long Pond Capital LP now owns 10,414,483 shares of the real estate investment trust’s stock valued at $167,986,000 after purchasing an additional 6,996,365 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Independence Realty Trust during the 2nd quarter valued at about $22,464,000. B&I Capital AG bought a new position in shares of Independence Realty Trust in the 2nd quarter valued at about $10,900,000. Easterly Investment Partners LLC purchased a new position in Independence Realty Trust in the third quarter worth about $11,132,000. Finally, Makena Capital Management LLC bought a new stake in Independence Realty Trust during the second quarter worth approximately $10,039,000. 88.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IRT shares. BTIG Research raised their price objective on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, August 12th. JMP Securities lifted their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, KeyCorp lifted their price target 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. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $19.57.

Independence Realty Trust Stock Performance

Shares of NYSE:IRT opened at $20.85 on Friday. The firm’s 50 day simple moving average is $20.10 and its 200-day simple moving average is $18.92. Independence Realty Trust, Inc. has a one year low of $12.99 and a one year high of $21.23. The firm has a market cap of $4.69 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 2.95 and a beta of 1.17.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were issued a dividend of $0.16 per share. The ex-dividend date was Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 3.07%.

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.