Cetera Investment Advisers Sells 39,074 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Cetera Investment Advisers lessened its holdings in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 12.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 270,287 shares of the real estate investment trust's stock after selling 39,074 shares during the period. Cetera Investment Advisers owned approximately 0.12% of Independence Realty Trust worth $5,362,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in IRT. Barclays PLC increased its holdings in shares of Independence Realty Trust by 182.3% during the third quarter. Barclays PLC now owns 400,376 shares of the real estate investment trust's stock worth $8,208,000 after buying an additional 258,549 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Independence Realty Trust by 12.3% during the third quarter. Franklin Resources Inc. now owns 256,234 shares of the real estate investment trust's stock worth $4,981,000 after buying an additional 28,059 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Independence Realty Trust by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,561,615 shares of the real estate investment trust's stock worth $70,662,000 after buying an additional 60,919 shares in the last quarter. Perigon Wealth Management LLC acquired a new stake in shares of Independence Realty Trust during the fourth quarter worth approximately $222,000. Finally, Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of Independence Realty Trust by 5.9% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,015,292 shares of the real estate investment trust's stock worth $20,143,000 after buying an additional 56,923 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company's stock.

Insider Buying and Selling at Independence Realty Trust

In other Independence Realty Trust news, CEO Scott Schaeffer sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $21.21, for a total value of $212,100.00. Following the transaction, the chief executive officer now directly owns 873,365 shares of the company's stock, valued at approximately $18,524,071.65. This trade represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 11,000 shares of company stock valued at $232,245. 0.58% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on IRT. Jefferies Financial Group raised shares of Independence Realty Trust from a "hold" rating to a "buy" rating and raised their price objective for the stock from $20.00 to $24.00 in a report on Monday, March 10th. Barclays raised their price objective on shares of Independence Realty Trust from $21.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Compass Point reaffirmed a "neutral" rating and set a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday, May 13th. UBS Group began coverage on shares of Independence Realty Trust in a report on Monday, April 7th. They set a "buy" rating and a $24.00 price objective for the company. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $25.00 price objective on shares of Independence Realty Trust in a report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Independence Realty Trust has a consensus rating of "Moderate Buy" and an average price target of $22.70.

Independence Realty Trust Trading Down 0.5%

Shares of IRT traded down $0.10 during mid-day trading on Monday, hitting $19.49. 1,096,617 shares of the company traded hands, compared to its average volume of 2,093,674. Independence Realty Trust, Inc. has a one year low of $15.66 and a one year high of $22.26. The business has a 50-day moving average of $19.65 and a 200 day moving average of $20.11. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 108.28, a PEG ratio of 2.91 and a beta of 0.98.

Independence Realty Trust (NYSE:IRT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.11%. The company had revenue of $160.91 million for the quarter, compared to the consensus estimate of $164.08 million. During the same period last year, the company earned $0.27 earnings per share. Independence Realty Trust's revenue for the quarter was up .4% compared to the same quarter last year. As a group, analysts anticipate that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Friday, June 27th will be paid a $0.17 dividend. The ex-dividend date is Friday, June 27th. This is a boost from Independence Realty Trust's previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 3.49%. Independence Realty Trust's dividend payout ratio (DPR) is presently 485.71%.

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.