Jump Financial LLC Sells 20,432 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Jump Financial LLC lowered its position in Independence Realty Trust, Inc. (NYSE:IRT) by 52.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,303 shares of the real estate investment trust’s stock after selling 20,432 shares during the period. Jump Financial LLC’s holdings in Independence Realty Trust were worth $280,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Fifth Third Bancorp lifted its stake in Independence Realty Trust by 83.9% in the fourth quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 1,183 shares in the last quarter. EdgeRock Capital LLC acquired a new position in Independence Realty Trust in the 4th quarter worth $60,000. Allworth Financial LP increased its holdings in Independence Realty Trust by 37.0% during the 4th quarter. Allworth Financial LP now owns 4,237 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 1,145 shares in the last quarter. Sound Income Strategies LLC raised its stake in shares of Independence Realty Trust by 36.1% in the 4th quarter. Sound Income Strategies LLC now owns 4,850 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 1,287 shares during the period. Finally, Clearstead Advisors LLC bought a new stake in shares of Independence Realty Trust in the third quarter valued at about $85,000. Institutional investors own 88.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on Independence Realty Trust from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. TheStreet lowered shares of Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. Deutsche Bank Aktiengesellschaft started coverage on shares of Independence Realty Trust in a report on Tuesday, January 30th. They set a “buy” rating and a $18.00 target price for the company. JMP Securities lifted their price target on shares of Independence Realty Trust from $15.00 to $17.00 and gave the company a “market outperform” rating in a research note on Wednesday, March 6th. Finally, Barclays reduced their price objective on shares of Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.00.

Independence Realty Trust Trading Down 0.5 %

NYSE IRT opened at $16.51 on Monday. The firm has a market capitalization of $3.72 billion, a P/E ratio of -550.15, a price-to-earnings-growth ratio of 2.42 and a beta of 1.07. The firm’s fifty day moving average price is $16.15 and its two-hundred day moving average price is $15.29. Independence Realty Trust, Inc. has a 1 year low of $11.61 and a 1 year high of $18.77.

Independence Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, March 29th were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.88%. Independence Realty Trust’s payout ratio is -2,132.62%.

About Independence Realty Trust

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.