Yousif Capital Management LLC Decreases Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Posted by on Aug 1st, 2023

Yousif Capital Management LLC trimmed its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT – Free Report) by 0.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,103 shares of the real estate investment trust’s stock after selling 845 shares during the period. Yousif Capital Management LLC owned 0.05% of Independence Realty Trust worth $1,829,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new position in Independence Realty Trust during the fourth quarter valued at $31,000. EverSource Wealth Advisors LLC lifted its stake in shares of Independence Realty Trust by 700.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,048 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 1,792 shares in the last quarter. Sound Income Strategies LLC lifted its stake in shares of Independence Realty Trust by 31.4% in the first quarter. Sound Income Strategies LLC now owns 3,563 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 852 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in shares of Independence Realty Trust by 132.6% in the fourth quarter. Harbor Investment Advisory LLC now owns 3,894 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 2,220 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Independence Realty Trust by 2,037.5% in the fourth quarter. Signaturefd LLC now owns 7,289 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 6,948 shares in the last quarter. 85.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IRT has been the topic of several research reports. Barclays decreased their price target on shares of Independence Realty Trust from $24.00 to $22.00 in a research note on Wednesday, May 31st. JMP Securities raised shares of Independence Realty Trust from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research note on Monday, May 8th. TheStreet downgraded shares of Independence Realty Trust from a “b-” rating to a “c” rating in a research note on Wednesday, April 26th. BMO Capital Markets downgraded shares of Independence Realty Trust from an “outperform” rating to a “market perform” rating and set a $19.00 target price on the stock. in a research note on Tuesday, July 18th. Finally, StockNews.com assumed coverage on shares of Independence Realty Trust in a research note on Thursday, May 18th. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Independence Realty Trust has a consensus rating of “Hold” and an average target price of $19.89.

Independence Realty Trust Trading Up 1.2 %

Shares of NYSE:IRT opened at $17.05 on Tuesday. The company has a market capitalization of $3.83 billion, a PE ratio of 55.00, a P/E/G ratio of 7.36 and a beta of 1.00. Independence Realty Trust, Inc. has a twelve month low of $14.55 and a twelve month high of $22.64. The firm has a 50 day simple moving average of $17.81 and a 200-day simple moving average of $17.40.

Independence Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, June 30th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Thursday, June 29th. This is an increase from Independence Realty Trust’s previous quarterly dividend of $0.14. Independence Realty Trust’s payout ratio is currently 206.45%.

Independence Realty Trust Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Independence Realty Trust (NYSE:IRT)

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