SMART Wealth LLC Sells 5,878 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

SMART Wealth LLC trimmed its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 13.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,714 shares of the real estate investment trust’s stock after selling 5,878 shares during the quarter. SMART Wealth LLC’s holdings in Independence Realty Trust were worth $728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of IRT. V Square Quantitative Management LLC purchased a new stake in shares of Independence Realty Trust during the third quarter valued at approximately $28,000. Blue Trust Inc. boosted its position in Independence Realty Trust by 295.9% during the 3rd quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 1,527 shares during the period. Assetmark Inc. bought a new stake in Independence Realty Trust in the 3rd quarter worth $41,000. Avior Wealth Management LLC increased its position in shares of Independence Realty Trust by 437.8% in the third quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 2,443 shares during the period. Finally, Sunbelt Securities Inc. bought a new position in shares of Independence Realty Trust during the third quarter valued at about $64,000. 88.25% of the stock is owned by hedge funds and other institutional investors.

Independence Realty Trust Stock Performance

Independence Realty Trust stock opened at $19.85 on Friday. Independence Realty Trust, Inc. has a fifty-two week low of $14.07 and a fifty-two week high of $22.26. The stock’s 50 day simple moving average is $19.93 and its two-hundred day simple moving average is $20.02. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.68 and a beta of 1.21.

Independence Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.64 annualized dividend and a dividend yield of 3.22%.

Analysts Set New Price Targets

Several research firms recently issued reports on IRT. Barclays cut their target price on Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. BMO Capital Markets upgraded Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $19.00 to $21.00 in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Independence Realty Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.86.

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.