Fisher Asset Management LLC reduced its stake in Independence Realty Trust, Inc. (NYSE:IRT - Free Report) by 16.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,995,043 shares of the real estate investment trust's stock after selling 384,113 shares during the quarter. Fisher Asset Management LLC owned approximately 0.89% of Independence Realty Trust worth $30,524,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of IRT. Commonwealth Equity Services LLC boosted its position in Independence Realty Trust by 1.8% in the third quarter. Commonwealth Equity Services LLC now owns 166,731 shares of the real estate investment trust's stock worth $2,346,000 after purchasing an additional 2,947 shares during the last quarter. Taylor Frigon Capital Management LLC increased its stake in shares of Independence Realty Trust by 1.3% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 78,256 shares of the real estate investment trust's stock worth $1,101,000 after purchasing an additional 986 shares during the last quarter. Strs Ohio raised its holdings in shares of Independence Realty Trust by 2.8% in the 3rd quarter. Strs Ohio now owns 302,385 shares of the real estate investment trust's stock worth $4,254,000 after purchasing an additional 8,100 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Independence Realty Trust by 6.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 131,254 shares of the real estate investment trust's stock valued at $1,847,000 after purchasing an additional 8,082 shares during the last quarter. Finally, Inspire Investing LLC grew its holdings in Independence Realty Trust by 24.1% during the third quarter. Inspire Investing LLC now owns 21,849 shares of the real estate investment trust's stock valued at $307,000 after purchasing an additional 4,250 shares during the period. 88.25% of the stock is currently owned by institutional investors.
Independence Realty Trust Stock Up 1.6 %
Shares of IRT stock traded up $0.26 during trading on Friday, hitting $16.33. The company had a trading volume of 1,120,496 shares, compared to its average volume of 2,643,175. The stock's 50-day moving average is $15.73 and its two-hundred day moving average is $14.87. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of -544.15, a price-to-earnings-growth ratio of 2.39 and a beta of 1.07. Independence Realty Trust, Inc. has a 52 week low of $11.61 and a 52 week high of $18.77.
Independence Realty Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, March 29th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend was Wednesday, March 27th. Independence Realty Trust's dividend payout ratio (DPR) is currently -2,132.62%.
Wall Street Analysts Forecast Growth
IRT has been the subject of several research reports. TheStreet downgraded Independence Realty Trust from a "c" rating to a "d+" rating in a research note on Friday, March 1st. Royal Bank of Canada upped their price target on shares of Independence Realty Trust from $16.00 to $17.00 and gave the company an "outperform" rating in a research note on Friday, February 16th. Deutsche Bank Aktiengesellschaft began coverage on shares of Independence Realty Trust in a research note on Tuesday, January 30th. They issued a "buy" rating and a $18.00 price objective for the company. JMP Securities increased their target price on Independence Realty Trust from $15.00 to $17.00 and gave the stock a "market outperform" rating in a research report on Wednesday, March 6th. Finally, Barclays reduced their price target on Independence Realty Trust from $22.00 to $18.00 and set an "overweight" rating for the company in a research report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $17.00.
Get Our Latest Stock Report on IRT
Independence Realty Trust Company Profile
(
Free Report)
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.
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