Tudor Investment Corp ET AL Sells 154,563 Shares of Independence Realty Trust, Inc. $IRT

Key Points

• Tudor Investment Corp. sold 154,563 shares of Independence Realty Trust in Q3, an 88.3% reduction that left it with 20,471 shares valued at about $336,000.
• Other institutions aggressively repositioned — notably Franklin Resources, Citadel and Schonfeld built multi‑million‑share stakes — leaving institutional ownership at roughly 88.25%.
• The stock trades near $15.64 while analysts have an average target of $20.61 (Moderate Buy); the company pays a $0.17 quarterly dividend (4.3% yield) but has a high payout ratio of 283% and recently reported EPS of $0.32, meeting estimates.

Tudor Investment Corp ET AL decreased its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 88.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 20,471 shares of the real estate investment trust's stock after selling 154,563 shares during the period. Tudor Investment Corp ET AL's holdings in Independence Realty Trust were worth $336,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of IRT. Franklin Resources Inc. boosted its holdings in Independence Realty Trust by 1,435.4% in the 3rd quarter. Franklin Resources Inc. now owns 3,827,503 shares of the real estate investment trust's stock valued at $62,733,000 after purchasing an additional 3,578,221 shares during the period. Balyasny Asset Management L.P. bought a new stake in Independence Realty Trust in the 2nd quarter valued at about $30,368,000. Freestone Grove Partners LP bought a new stake in Independence Realty Trust in the 3rd quarter valued at about $21,965,000. Citadel Advisors LLC boosted its holdings in Independence Realty Trust by 50.8% in the 3rd quarter. Citadel Advisors LLC now owns 3,473,040 shares of the real estate investment trust's stock valued at $56,923,000 after purchasing an additional 1,170,633 shares during the period. Finally, Schonfeld Strategic Advisors LLC boosted its holdings in Independence Realty Trust by 3,284.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,157,916 shares of the real estate investment trust's stock valued at $18,978,000 after purchasing an additional 1,123,706 shares during the period. Institutional investors own 88.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IRT. Deutsche Bank Aktiengesellschaft downgraded shares of Independence Realty Trust from a "buy" rating to a "hold" rating and set a $18.00 price objective for the company. in a report on Tuesday, January 20th. Barclays cut their price objective on shares of Independence Realty Trust from $21.00 to $18.00 and set an "equal weight" rating for the company in a report on Friday, March 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Independence Realty Trust in a report on Friday, March 27th. Zacks Research raised shares of Independence Realty Trust from a "strong sell" rating to a "hold" rating in a report on Monday, March 23rd. Finally, BMO Capital Markets raised shares of Independence Realty Trust from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $20.00 to $22.00 in a report on Friday, January 9th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $20.61.

Independence Realty Trust Trading Down 0.2%

Shares of NYSE:IRT opened at $15.64 on Friday. The firm has a 50 day moving average of $15.91 and a 200-day moving average of $16.42. The stock has a market capitalization of $3.68 billion, a PE ratio of 65.15, a PEG ratio of 1.75 and a beta of 1.00. Independence Realty Trust, Inc. has a 12 month low of $14.60 and a 12 month high of $19.94.

Independence Realty Trust (NYSE:IRT - Get Free Report) last issued its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $167.13 million during the quarter, compared to analysts' expectations of $170.26 million. Independence Realty Trust had a net margin of 8.60% and a return on equity of 1.58%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 EPS. On average, research analysts predict that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 27th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, March 27th. Independence Realty Trust's dividend payout ratio is currently 283.33%.

Independence Realty Trust Company Profile

Independence Realty Trust is a self-administered equity real estate investment trust that acquires, redevelops and manages multi-family communities. The company focuses on workforce housing, targeting Class A and B garden-style apartments in suburban and urban infill locations. Its core activities include sourcing value-add acquisitions, overseeing property renovations and delivering in-house property management services to optimize rental income and occupancy levels.

Headquartered in Wayne, Pennsylvania, Independence Realty Trust maintains a geographically diverse portfolio across several high-growth U.S.

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