Prime Capital Investment Advisors LLC Sells 3,050 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Prime Capital Investment Advisors LLC decreased its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRTFree Report) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,574 shares of the real estate investment trust’s stock after selling 3,050 shares during the quarter. Prime Capital Investment Advisors LLC owned about 0.05% of Independence Realty Trust worth $1,668,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. State of New Jersey Common Pension Fund D increased its stake in Independence Realty Trust by 1.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 485,383 shares of the real estate investment trust’s stock valued at $6,829,000 after purchasing an additional 7,805 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Independence Realty Trust by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,044,923 shares of the real estate investment trust’s stock valued at $42,842,000 after purchasing an additional 46,841 shares in the last quarter. Swiss National Bank increased its stake in Independence Realty Trust by 1.0% in the third quarter. Swiss National Bank now owns 493,700 shares of the real estate investment trust’s stock valued at $6,946,000 after purchasing an additional 5,100 shares in the last quarter. Clearstead Advisors LLC bought a new stake in Independence Realty Trust in the third quarter valued at approximately $85,000. Finally, Jump Financial LLC bought a new stake in Independence Realty Trust in the third quarter valued at approximately $545,000. Institutional investors and hedge funds own 85.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on IRT. Royal Bank of Canada lowered their target price on shares of Independence Realty Trust from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, November 1st. BMO Capital Markets reiterated an “underperform” rating and issued a $15.00 price target (up previously from $14.00) on shares of Independence Realty Trust in a report on Friday, December 15th. Deutsche Bank Aktiengesellschaft started coverage on shares of Independence Realty Trust in a report on Tuesday, January 30th. They issued a “buy” rating and a $18.00 price target for the company. Finally, JMP Securities reduced their price target on shares of Independence Realty Trust from $20.00 to $15.00 and set a “market outperform” rating for the company in a report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Independence Realty Trust currently has an average rating of “Hold” and a consensus price target of $17.83.

Get Our Latest Analysis on Independence Realty Trust

Independence Realty Trust Trading Down 0.9 %

Shares of IRT opened at $14.74 on Monday. Independence Realty Trust, Inc. has a 12 month low of $11.61 and a 12 month high of $19.53. The firm has a fifty day simple moving average of $15.07 and a 200 day simple moving average of $14.84. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 56.69 and a beta of 1.07.

Independence Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, December 29th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.34%. The ex-dividend date was Thursday, December 28th. Independence Realty Trust’s payout ratio is 246.15%.

Independence Realty Trust 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.

Further Reading

Institutional Ownership by Quarter for Independence Realty Trust (NYSE:IRT)

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