J.W. Cole Advisors Inc. Sells 2,343 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

J.W. Cole Advisors Inc. lowered its position in Independence Realty Trust, Inc. (NYSE:IRT) by 5.5% during the fourth quarter, Holdings Channel reports. The firm owned 40,560 shares of the real estate investment trust’s stock after selling 2,343 shares during the period. J.W. Cole Advisors Inc.’s holdings in Independence Realty Trust were worth $621,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. AE Wealth Management LLC lifted its holdings in Independence Realty Trust by 4.0% in the third quarter. AE Wealth Management LLC now owns 58,990 shares of the real estate investment trust’s stock valued at $830,000 after buying an additional 2,271 shares during the period. SG Americas Securities LLC lifted its stake in shares of Independence Realty Trust by 328.7% in the 3rd quarter. SG Americas Securities LLC now owns 111,910 shares of the real estate investment trust’s stock valued at $1,575,000 after purchasing an additional 85,804 shares during the period. Oak Thistle LLC bought a new stake in shares of Independence Realty Trust during the 3rd quarter valued at about $162,000. Handelsbanken Fonder AB grew its stake in Independence Realty Trust by 41.6% during the third quarter. Handelsbanken Fonder AB now owns 69,061 shares of the real estate investment trust’s stock worth $972,000 after purchasing an additional 20,300 shares during the period. Finally, Investment Research & Advisory Group Inc. increased its holdings in Independence Realty Trust by 2.7% in the third quarter. Investment Research & Advisory Group Inc. now owns 39,109 shares of the real estate investment trust’s stock worth $550,000 after purchasing an additional 1,011 shares in the last quarter. 88.25% of the stock is owned by institutional investors.

Independence Realty Trust Trading Up 1.3 %

Shares of NYSE IRT opened at $15.83 on Tuesday. The company has a 50-day moving average price of $15.60 and a 200-day moving average price of $14.75. Independence Realty Trust, Inc. has a 1 year low of $11.61 and a 1 year high of $18.77.

Independence Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, March 29th were given a $0.16 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.64 annualized dividend and a yield of 4.04%. Independence Realty Trust’s payout ratio is -914.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada increased their price target on Independence Realty Trust from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. JMP Securities raised their price target on shares of 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 started coverage on shares of Independence Realty Trust in a research note on Tuesday, January 30th. They issued a “buy” rating and a $18.00 price target for the company. TheStreet cut shares of Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. Finally, Barclays decreased their target price on 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. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.