Strs Ohio Cuts Position in Independence Realty Trust, Inc. (NYSE:IRT)

Strs Ohio cut its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 6.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 281,785 shares of the real estate investment trust’s stock after selling 20,600 shares during the period. Strs Ohio owned about 0.13% of Independence Realty Trust worth $4,311,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IRT. Lazard Asset Management LLC purchased a new stake in Independence Realty Trust during the fourth quarter valued at about $31,000. Fifth Third Bancorp boosted its position in Independence Realty Trust by 83.9% during 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 during the period. IFP Advisors Inc boosted its position in Independence Realty Trust by 176.2% during the second quarter. IFP Advisors Inc now owns 3,000 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 1,914 shares during the period. Allworth Financial LP boosted its position in Independence Realty Trust by 37.0% during the fourth quarter. Allworth Financial LP now owns 4,237 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 1,145 shares during the period. Finally, Sound Income Strategies LLC boosted its position in Independence Realty Trust by 36.1% during the fourth quarter. Sound Income Strategies LLC now owns 4,850 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 1,287 shares during the period. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on IRT. Barclays cut their price target on shares of Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. JMP Securities upped their price objective 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Independence Realty Trust in a research note on Tuesday, January 30th. They set a “buy” rating and a $18.00 price objective for the company. Royal Bank of Canada upped their price objective on shares of Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Finally, TheStreet downgraded shares of Independence Realty Trust from a “c” rating to a “d+” rating in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.00.

Independence Realty Trust Price Performance

IRT stock opened at $15.55 on Friday. Independence Realty Trust, Inc. has a 1 year low of $11.61 and a 1 year high of $18.77. The company has a market cap of $3.50 billion, a P/E ratio of -222.11, a PEG ratio of 2.29 and a beta of 1.07. The firm has a 50-day moving average of $15.56 and a 200 day moving average of $14.70.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, March 29th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Wednesday, March 27th. Independence Realty Trust’s payout ratio is currently -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.