Rhumbline Advisers Sells 6,597 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Rhumbline Advisers lowered its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 798,379 shares of the real estate investment trust’s stock after selling 6,597 shares during the period. Rhumbline Advisers’ holdings in Independence Realty Trust were worth $15,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Independence Realty Trust by 0.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,984 shares of the real estate investment trust’s stock valued at $2,050,000 after acquiring an additional 526 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Independence Realty Trust by 0.5% during the fourth quarter. State of Alaska Department of Revenue now owns 133,831 shares of the real estate investment trust’s stock valued at $2,654,000 after buying an additional 643 shares during the last quarter. Blue Trust Inc. grew its holdings in Independence Realty Trust by 33.9% during the 4th quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 692 shares in the last quarter. Sound Income Strategies LLC increased its stake in Independence Realty Trust by 20.5% in the 4th quarter. Sound Income Strategies LLC now owns 4,295 shares of the real estate investment trust’s stock worth $85,000 after acquiring an additional 732 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in Independence Realty Trust by 0.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 281,800 shares of the real estate investment trust’s stock worth $5,777,000 after acquiring an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Down 1.5 %

Shares of IRT opened at $20.44 on Friday. The business has a fifty day moving average of $19.70 and a 200 day moving average of $20.13. The company has a market cap of $4.72 billion, a PE ratio of 113.56, a P/E/G ratio of 2.89 and a beta of 1.21. Independence Realty Trust, Inc. has a 52-week low of $14.35 and a 52-week high of $22.26.

Independence Realty Trust (NYSE:IRT) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (EPS) 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%. As a group, research analysts anticipate that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.64 annualized dividend and a dividend yield of 3.13%. Independence Realty Trust’s dividend payout ratio (DPR) is presently 355.56%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IRT shares. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and raised their target price for the company from $19.00 to $21.00 in a report on Friday, November 15th. JMP Securities reissued a “market outperform” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a research note on Tuesday, February 11th. Finally, Barclays reduced their target price on shares of Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

Independence Realty Trust Company 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.