Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 4.5% in the 4th quarter, HoldingsChannel reports. The firm owned 312,419 shares of the real estate investment trust’s stock after selling 14,776 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Independence Realty Trust were worth $6,198,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in Independence Realty Trust in the 3rd quarter worth approximately $28,000. Blue Trust Inc. grew its stake in shares of 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. purchased a new stake in shares of Independence Realty Trust during the 3rd quarter valued at $41,000. Avior Wealth Management LLC grew its stake in shares of Independence Realty Trust by 437.8% during the 3rd quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 2,443 shares during the period. Finally, Sunbelt Securities Inc. purchased a new stake in shares of Independence Realty Trust during the 3rd quarter valued at $64,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IRT has been the subject of several research reports. JMP Securities reissued a “market outperform” rating and set a $22.00 price objective on shares of Independence Realty Trust in a research note on Tuesday, February 11th. Barclays reduced their target price on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Finally, BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $19.00 to $21.00 in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Independence Realty Trust has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Independence Realty Trust Stock Up 1.4 %

Shares of NYSE:IRT opened at $20.81 on Wednesday. Independence Realty Trust, Inc. has a fifty-two week low of $14.35 and a fifty-two week high of $22.26. The company has a market cap of $4.68 billion, a PE ratio of 17.43, a P/E/G ratio of 2.77 and a beta of 1.21. The firm has a 50-day simple moving average of $19.73 and a 200 day simple moving average of $20.11.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.24. Independence Realty Trust had a negative net margin of 0.03% and a negative return on equity of 0.01%. As a group, research analysts forecast that Independence Realty Trust, Inc. will post 1.15 EPS for the current fiscal year.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Tuesday, December 31st.

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.