Nuveen Asset Management LLC Sells 23,652 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Nuveen Asset Management LLC lowered its position in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,165,599 shares of the real estate investment trust's stock after selling 23,652 shares during the period. Nuveen Asset Management LLC owned 0.52% of Independence Realty Trust worth $23,125,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. acquired a new position in Independence Realty Trust during the fourth quarter valued at approximately $1,781,000. Barclays PLC grew its holdings in 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 valued at $8,208,000 after purchasing an additional 258,549 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 valued at $70,662,000 after purchasing an additional 60,919 shares during the last quarter. Perigon Wealth Management LLC acquired a new position in Independence Realty Trust during the fourth quarter valued at approximately $222,000. Finally, Cbre Investment Management Listed Real Assets LLC grew its holdings in 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 valued at $20,143,000 after purchasing an additional 56,923 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wells Fargo & Company assumed coverage on Independence Realty Trust in a report on Wednesday, March 19th. They set an "overweight" rating and a $24.00 price target on the stock. Compass Point restated a "neutral" rating and issued a $22.00 price objective on shares of Independence Realty Trust in a research note on Tuesday, May 13th. UBS Group started coverage on shares of Independence Realty Trust in a research note on Monday, April 7th. They issued a "buy" rating and a $24.00 price objective on the stock. JMP Securities restated a "market outperform" rating and issued a $25.00 price objective on shares of Independence Realty Trust in a research note on Monday, May 5th. Finally, Jefferies Financial Group upgraded 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 research note on Monday, March 10th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.70.

Independence Realty Trust Trading Down 0.1%

Shares of Independence Realty Trust stock traded down $0.02 during mid-day trading on Thursday, reaching $18.28. 210,070 shares of the stock were exchanged, compared to its average volume of 1,916,862. The company has a market cap of $4.27 billion, a price-to-earnings ratio of 101.52, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98. The firm has a 50-day simple moving average of $19.30 and a 200 day simple moving average of $20.02. Independence Realty Trust, Inc. has a fifty-two week low of $15.65 and a fifty-two week high of $22.26.

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

Independence Realty Trust Increases Dividend

The business 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. This represents a $0.68 annualized dividend and a yield of 3.72%. The ex-dividend date is Friday, June 27th. This is a boost from Independence Realty Trust's previous quarterly dividend of $0.16. Independence Realty Trust's dividend payout ratio (DPR) is presently 485.71%.

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 dated 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 sale, the chief executive officer now owns 873,365 shares in the company, valued at approximately $18,524,071.65. This trade represents a 1.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 11,000 shares of company stock worth $232,245. 0.58% of the stock is currently owned by corporate insiders.

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.