Daiwa Securities Group Inc. Sells 3,422 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Daiwa Securities Group Inc. trimmed its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,181 shares of the real estate investment trust’s stock after selling 3,422 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Independence Realty Trust were worth $1,043,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in Independence Realty Trust by 83.9% during the fourth quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 1,183 shares during the period. Allworth Financial LP grew its position in Independence Realty Trust by 37.0% during the fourth quarter. Allworth Financial LP now owns 4,237 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 1,145 shares during the period. Sound Income Strategies LLC grew its position in Independence Realty Trust by 36.1% during the fourth quarter. Sound Income Strategies LLC now owns 4,850 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 1,287 shares during the period. Clearstead Advisors LLC bought a new stake in Independence Realty Trust during the third quarter valued at approximately $85,000. Finally, CHICAGO TRUST Co NA bought a new stake in Independence Realty Trust during the fourth quarter valued at approximately $153,000. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Stock Performance

IRT stock opened at $15.75 on Thursday. Independence Realty Trust, Inc. has a one year low of $11.61 and a one year high of $18.77. The company’s fifty day moving average price is $15.65 and its 200-day moving average price is $14.77. The company has a market capitalization of $3.54 billion, a PE ratio of -225.00, a price-to-earnings-growth ratio of 2.31 and a beta of 1.07.

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, March 29th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Wednesday, March 27th. Independence Realty Trust’s dividend payout ratio (DPR) is presently -914.29%.

Analysts Set New Price Targets

Several equities analysts have weighed in on IRT shares. JMP Securities lifted their price target on shares of Independence Realty Trust from $15.00 to $17.00 and gave the company a “market outperform” rating in a report on Wednesday, March 6th. Barclays lowered their price target on shares of Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, February 20th. TheStreet downgraded shares of Independence Realty Trust from a “c” rating to a “d+” rating in a report on Friday, March 1st. Deutsche Bank Aktiengesellschaft started coverage on shares of Independence Realty Trust in a report on Tuesday, January 30th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Royal Bank of Canada lifted their price target on shares of Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $17.00.

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.