Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lessened its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,795 shares of the real estate investment trust’s stock after selling 2,658 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Independence Realty Trust were worth $492,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its position in shares of Independence Realty Trust by 236.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,027,943 shares of the real estate investment trust’s stock worth $82,573,000 after buying an additional 2,829,247 shares during the last quarter. Wellington Management Group LLP raised its stake in Independence Realty Trust by 24.4% during the third quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust’s stock worth $232,900,000 after acquiring an additional 2,225,371 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Independence Realty Trust by 419.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,433,058 shares of the real estate investment trust’s stock worth $29,378,000 after acquiring an additional 1,157,052 shares during the period. JPMorgan Chase & Co. lifted its holdings in Independence Realty Trust by 38.0% in the third quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust’s stock worth $51,150,000 after acquiring an additional 686,630 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Independence Realty Trust in the fourth quarter valued at approximately $12,105,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IRT. JMP Securities reiterated a “market outperform” rating and set a $22.00 price target on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Barclays dropped their target price on Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.71.

Independence Realty Trust Stock Performance

Shares of IRT stock opened at $20.98 on Tuesday. Independence Realty Trust, Inc. has a 1 year low of $15.23 and a 1 year high of $22.26. The firm has a market capitalization of $4.85 billion, a PE ratio of 116.58, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19. The stock has a fifty day moving average of $19.97 and a two-hundred day moving average of $20.28.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.24. Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.11%. Equities research analysts predict that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Friday, March 28th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.05%. Independence Realty Trust’s dividend payout ratio 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.