Hunter Perkins Capital Management LLC Has $486,000 Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Hunter Perkins Capital Management LLC reduced its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 44.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,875 shares of the real estate investment trust's stock after selling 18,100 shares during the quarter. Hunter Perkins Capital Management LLC's holdings in Independence Realty Trust were worth $486,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in IRT. Principal Financial Group Inc. boosted its stake in shares of Independence Realty Trust by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 722,128 shares of the real estate investment trust's stock valued at $14,327,000 after buying an additional 20,826 shares during the period. Truist Financial Corp boosted its position in Independence Realty Trust by 5.9% during the fourth quarter. Truist Financial Corp now owns 26,714 shares of the real estate investment trust's stock valued at $530,000 after purchasing an additional 1,499 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new stake in Independence Realty Trust during the fourth quarter valued at $564,000. Global Retirement Partners LLC grew its stake in Independence Realty Trust by 66.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 521 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Independence Realty Trust in the 4th quarter worth about $204,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IRT has been the subject of several research reports. UBS Group initiated coverage on Independence Realty Trust in a report on Monday, April 7th. They set a "buy" rating and a $24.00 price target for the company. Wells Fargo & Company initiated coverage on shares of Independence Realty Trust in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $24.00 target price for the company. Jefferies Financial Group upgraded shares of Independence Realty Trust from a "hold" rating to a "buy" rating and raised their price target for the company from $20.00 to $24.00 in a report on Monday, March 10th. Barclays lifted their price objective on shares of Independence Realty Trust from $21.00 to $22.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Finally, Compass Point reissued a "neutral" rating and set a $22.00 target price on shares of Independence Realty Trust in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $22.70.

Insider Transactions at Independence Realty Trust

In other news, CEO Scott Schaeffer sold 10,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 873,365 shares in the company, valued at approximately $18,524,071.65. This represents a 1.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 11,500 shares of company stock valued at $241,445. 0.58% of the stock is owned by corporate insiders.

Independence Realty Trust Stock Down 1.6%

Independence Realty Trust stock traded down $0.29 during mid-day trading on Friday, reaching $17.60. The company had a trading volume of 5,689,390 shares, compared to its average volume of 2,004,853. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 125.68, a PEG ratio of 2.45 and a beta of 0.96. The company has a 50 day moving average of $18.68 and a 200-day moving average of $19.56. Independence Realty Trust, Inc. has a 52 week low of $17.10 and a 52 week high of $22.26.

Independence Realty Trust (NYSE:IRT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.01). Independence Realty Trust had a net margin of 4.70% and a return on equity of 0.85%. The company had revenue of $160.91 million for the quarter, compared to analyst estimates of $164.08 million. During the same period in the prior year, the company posted $0.27 EPS. The firm's quarterly revenue was up .4% on a year-over-year basis. On average, analysts predict that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Friday, June 27th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.86%. This is an increase from Independence Realty Trust's previous quarterly dividend of $0.16. Independence Realty Trust's dividend payout ratio (DPR) is currently 457.14%.

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.