Concorde Asset Management LLC Cuts Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Concorde Asset Management LLC decreased its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 33.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,229 shares of the real estate investment trust’s stock after selling 9,947 shares during the period. Concorde Asset Management LLC’s holdings in Independence Realty Trust were worth $415,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IRT. Ashton Thomas Private Wealth LLC purchased a new position in shares of Independence Realty Trust during the second quarter valued at about $25,000. Mattson Financial Services LLC purchased a new position in Independence Realty Trust in the second quarter worth about $28,000. V Square Quantitative Management LLC purchased a new position in Independence Realty Trust in the third quarter worth about $28,000. Pathway Financial Advisers LLC purchased a new position in Independence Realty Trust in the first quarter worth about $31,000. Finally, Blue Trust Inc. grew its position in Independence Realty Trust by 295.9% in the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 1,527 shares in the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on IRT shares. BTIG Research lifted their price target on Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. KeyCorp boosted their target price on Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. 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, BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $19.00 to $21.00 in a research note on Friday, November 15th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.43.

Independence Realty Trust Stock Up 0.6 %

Shares of NYSE:IRT opened at $21.48 on Friday. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 3.06 and a beta of 1.17. Independence Realty Trust, Inc. has a 52 week low of $13.24 and a 52 week high of $21.70. The firm has a 50 day moving average of $20.22 and a 200 day moving average of $19.12.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend was Monday, September 30th.

Independence Realty Trust 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.