Mutual Advisors LLC Acquires 1,582 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Mutual Advisors LLC lifted its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,537 shares of the real estate investment trust’s stock after buying an additional 1,582 shares during the quarter. Mutual Advisors LLC’s holdings in Independence Realty Trust were worth $666,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Sentinus LLC grew its stake in shares of Independence Realty Trust by 3.8% in the first quarter. Sentinus LLC now owns 18,304 shares of the real estate investment trust’s stock worth $293,000 after acquiring an additional 678 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in Independence Realty Trust by 1.1% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 63,209 shares of the real estate investment trust’s stock valued at $1,066,000 after purchasing an additional 679 shares in the last quarter. Penserra Capital Management LLC raised its holdings in Independence Realty Trust by 2.5% in the third quarter. Penserra Capital Management LLC now owns 31,415 shares of the real estate investment trust’s stock worth $441,000 after buying an additional 774 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of Independence Realty Trust by 1.3% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 65,231 shares of the real estate investment trust’s stock worth $1,106,000 after buying an additional 821 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Independence Realty Trust by 1.4% during the third quarter. Arizona State Retirement System now owns 63,947 shares of the real estate investment trust’s stock valued at $900,000 after buying an additional 910 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Stock Performance

Independence Realty Trust stock opened at $16.01 on Thursday. Independence Realty Trust, Inc. has a one year low of $11.61 and a one year high of $18.77. The stock has a fifty day moving average of $15.29 and a 200 day moving average of $14.61. The stock has a market cap of $3.60 billion, a PE ratio of -228.68, a price-to-earnings-growth ratio of 2.33 and a beta of 1.06.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, March 29th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Wednesday, March 27th. Independence Realty Trust’s dividend payout ratio (DPR) is presently -914.16%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays lowered 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 target (up from $14.00) on shares of Independence Realty Trust in a report on Friday, December 15th. JMP Securities lifted their price objective 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. TheStreet cut shares of Independence Realty Trust from a “c” rating to a “d+” rating in a research note on Friday, March 1st. Finally, Royal Bank of Canada raised their price target on shares of Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $17.00.

Independence Realty Trust 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.