Geneos Wealth Management Inc. Sells 1,440 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Geneos Wealth Management Inc. cut its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,314 shares of the real estate investment trust’s stock after selling 1,440 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Independence Realty Trust were worth $586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of IRT. Vanguard Group Inc. grew its stake in shares of Independence Realty Trust by 98.9% in the first quarter. Vanguard Group Inc. now owns 24,329,328 shares of the real estate investment trust’s stock worth $643,267,000 after purchasing an additional 12,099,993 shares during the last quarter. State Street Corp boosted its position in Independence Realty Trust by 121.7% during the 1st quarter. State Street Corp now owns 12,302,671 shares of the real estate investment trust’s stock valued at $326,733,000 after acquiring an additional 6,753,959 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Independence Realty Trust by 835.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,124,268 shares of the real estate investment trust’s stock valued at $86,396,000 after acquiring an additional 4,576,456 shares in the last quarter. Macquarie Group Ltd. boosted its position in Independence Realty Trust by 151.8% during the 2nd quarter. Macquarie Group Ltd. now owns 5,042,952 shares of the real estate investment trust’s stock valued at $104,585,000 after acquiring an additional 3,040,046 shares in the last quarter. Finally, Norges Bank bought a new stake in Independence Realty Trust during the 4th quarter valued at approximately $38,207,000. 88.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on IRT shares. Deutsche Bank Aktiengesellschaft started coverage on Independence Realty Trust in a research report on Tuesday, January 30th. They set a “buy” rating and a $18.00 price objective on the stock. TheStreet cut Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. Barclays cut their price objective on Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 20th. BMO Capital Markets reaffirmed an “underperform” rating and set a $15.00 price objective (up from $14.00) on shares of Independence Realty Trust in a research report on Friday, December 15th. Finally, Royal Bank of Canada lifted their price objective on Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, Independence Realty Trust currently has a consensus rating of “Hold” and a consensus target price of $17.00.

Independence Realty Trust Trading Down 1.7 %

IRT stock opened at $16.00 on Friday. The firm has a 50 day moving average price of $15.50 and a 200-day moving average price of $14.66. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.64 annualized dividend and a dividend yield of 4.00%. Independence Realty Trust’s payout ratio is -914.16%.

Independence Realty Trust Company 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.