Federated Hermes Inc. Has $431,000 Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Federated Hermes Inc. lessened its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 11.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,189 shares of the real estate investment trust’s stock after selling 3,822 shares during the quarter. Federated Hermes Inc.’s holdings in Independence Realty Trust were worth $431,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its stake in shares of Independence Realty Trust by 1.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 166,731 shares of the real estate investment trust’s stock valued at $2,346,000 after acquiring an additional 2,947 shares during the last quarter. Taylor Frigon Capital Management LLC raised its holdings in Independence Realty Trust by 1.3% in the 3rd quarter. Taylor Frigon Capital Management LLC now owns 78,256 shares of the real estate investment trust’s stock valued at $1,101,000 after buying an additional 986 shares during the last quarter. Strs Ohio raised its holdings in 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 valued at $4,254,000 after buying an additional 8,100 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Independence Realty Trust by 6.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 131,254 shares of the real estate investment trust’s stock worth $1,847,000 after buying an additional 8,082 shares during the period. Finally, Inspire Investing LLC grew its holdings in Independence Realty Trust by 24.1% during the 3rd quarter. Inspire Investing LLC now owns 21,849 shares of the real estate investment trust’s stock worth $307,000 after acquiring an additional 4,250 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Shares of Independence Realty Trust stock opened at $16.33 on Friday. The business has a 50-day simple moving average of $15.71 and a 200 day simple moving average of $14.84. Independence Realty Trust, Inc. has a one year low of $11.61 and a one year high of $18.77. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of -544.15, a PEG ratio of 2.31 and a beta of 1.07.

Independence Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, March 29th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.64 annualized dividend and a dividend yield of 3.92%. Independence Realty Trust’s dividend payout ratio is -2,132.62%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on IRT shares. Barclays reduced their target price on Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, February 20th. JMP Securities increased their price target on Independence Realty Trust from $15.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Independence Realty Trust in a research note on Tuesday, January 30th. They issued 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 note on Friday, March 1st. Finally, Royal Bank of Canada lifted their target price on Independence Realty Trust from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.00.

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.