Cwm LLC decreased its position in Independence Realty Trust, Inc. (NYSE:IRT – Get Rating) by 11.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,992 shares of the real estate investment trust’s stock after selling 4,383 shares during the period. Cwm LLC’s holdings in Independence Realty Trust were worth $556,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IRT. Centaurus Financial Inc. increased its stake in shares of Independence Realty Trust by 0.5% during the third quarter. Centaurus Financial Inc. now owns 124,434 shares of the real estate investment trust’s stock worth $2,082,000 after purchasing an additional 604 shares in the last quarter. Paradigm Financial Partners LLC increased its stake in shares of Independence Realty Trust by 0.4% during the third quarter. Paradigm Financial Partners LLC now owns 203,770 shares of the real estate investment trust’s stock worth $3,328,000 after purchasing an additional 868 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Independence Realty Trust by 1.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 59,900 shares of the real estate investment trust’s stock worth $1,010,000 after purchasing an additional 900 shares in the last quarter. State of Michigan Retirement System increased its stake in shares of Independence Realty Trust by 2.0% during the fourth quarter. State of Michigan Retirement System now owns 57,000 shares of the real estate investment trust’s stock worth $961,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Independence Realty Trust by 1.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 88,681 shares of the real estate investment trust’s stock worth $1,838,000 after purchasing an additional 1,122 shares in the last quarter. Hedge funds and other institutional investors own 81.01% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently commented on IRT. Barclays boosted their target price on shares of Independence Realty Trust from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 1st. TheStreet upgraded Independence Realty Trust from a “c+” rating to a “b-” rating in a research report on Wednesday, February 15th. Citigroup lifted their price target on Independence Realty Trust from $18.50 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, February 23rd. JMP Securities initiated coverage on shares of Independence Realty Trust in a research note on Monday, January 30th. They issued a “market perform” rating for the company. Finally, BTIG Research cut their price target on shares of Independence Realty Trust from $27.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, January 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Independence Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $20.81.
Independence Realty Trust Stock Up 1.7 %
Independence Realty Trust Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, April 21st. Shareholders of record on Friday, March 31st were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Thursday, March 30th. Independence Realty Trust’s payout ratio is 105.66%.
Independence Realty Trust Company Profile
Independence Realty Trust, Inc is a real estate investment trust, which acquires, owns, operates, improves and manages multifamily apartment communities across non-gateway U.S. markets. It aims to provide stockholders risk-adjusted returns through diligent portfolio management, operational performance and consistent return of capital through distributions and capital appreciation.
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