Cypress Wealth Services LLC Reduces Position in Independence Realty Trust, Inc. (NYSE:IRT)

Cypress Wealth Services LLC trimmed its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 38.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,438 shares of the real estate investment trust’s stock after selling 15,060 shares during the quarter. Cypress Wealth Services LLC’s holdings in Independence Realty Trust were worth $394,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of IRT. Peregrine Capital Management LLC acquired a new position in Independence Realty Trust in the fourth quarter worth about $7,728,000. Aurora Investment Managers LLC. grew its stake in Independence Realty Trust by 62.8% in the fourth quarter. Aurora Investment Managers LLC. now owns 33,382 shares of the real estate investment trust’s stock worth $511,000 after purchasing an additional 12,876 shares in the last quarter. Lighthouse Investment Partners LLC grew its stake in Independence Realty Trust by 22.9% in the fourth quarter. Lighthouse Investment Partners LLC now owns 725,000 shares of the real estate investment trust’s stock worth $11,092,000 after purchasing an additional 135,000 shares in the last quarter. Frontier Capital Management Co. LLC grew its stake in Independence Realty Trust by 19.3% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,960,798 shares of the real estate investment trust’s stock worth $45,300,000 after purchasing an additional 479,379 shares in the last quarter. Finally, Kestra Private Wealth Services LLC acquired a new position in Independence Realty Trust in the fourth quarter worth about $994,000. 88.25% of the stock is owned by hedge funds and other institutional investors.

Independence Realty Trust Trading Up 0.9 %

NYSE:IRT traded up $0.16 during trading hours on Thursday, hitting $18.46. 2,455,775 shares of the stock traded hands, compared to its average volume of 2,422,442. The firm has a 50 day moving average price of $16.89 and a 200 day moving average price of $15.91. Independence Realty Trust, Inc. has a fifty-two week low of $11.61 and a fifty-two week high of $18.56. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of -615.13, a PEG ratio of 2.67 and a beta of 1.12.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Friday, June 28th. Independence Realty Trust’s dividend payout ratio is currently -2,132.62%.

Analysts Set New Price Targets

A number of equities analysts have commented on IRT shares. TheStreet downgraded Independence Realty Trust from a “c” rating to a “d+” rating in a research note on Friday, March 1st. JMP Securities lifted their target price on 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. Two 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, Independence Realty Trust currently has a consensus rating of “Hold” and an average 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.