Advisor Resource Council Sells 22,054 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Advisor Resource Council lessened its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 41.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,916 shares of the real estate investment trust’s stock after selling 22,054 shares during the quarter. Advisor Resource Council’s holdings in Independence Realty Trust were worth $634,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of IRT. Daiwa Securities Group Inc. boosted its stake in shares of Independence Realty Trust by 6.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 72,876 shares of the real estate investment trust’s stock valued at $1,175,000 after purchasing an additional 4,695 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in Independence Realty Trust by 1.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 196,125 shares of the real estate investment trust’s stock worth $3,163,000 after acquiring an additional 2,378 shares during the last quarter. SG Americas Securities LLC boosted its stake in Independence Realty Trust by 152.9% during the 1st quarter. SG Americas Securities LLC now owns 198,561 shares of the real estate investment trust’s stock worth $3,203,000 after acquiring an additional 120,062 shares during the last quarter. Mesirow Institutional Investment Management Inc. bought a new position in Independence Realty Trust during the 1st quarter worth approximately $8,867,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Independence Realty Trust during the 1st quarter worth approximately $1,673,000. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Up 1.6 %

NYSE IRT opened at $20.24 on Thursday. Independence Realty Trust, Inc. has a 12-month low of $12.50 and a 12-month high of $21.20. The company has a market capitalization of $4.55 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 2.75 and a beta of 1.17. The firm’s 50 day moving average is $20.07 and its 200-day moving average is $18.74.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were issued a $0.16 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.16%.

Analysts Set New Price Targets

Several research firms recently weighed in on IRT. BTIG Research lifted their price objective on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. JMP Securities lifted their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a research note on Monday, September 9th. Finally, KeyCorp lifted their price target on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.57.

About Independence Realty Trust

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.