Independence Realty Trust, Inc. (NYSE:IRT) Position Reduced by Investment Advisory Services Inc. TX ADV

Investment Advisory Services Inc. TX ADV decreased its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,480 shares of the real estate investment trust’s stock after selling 1,780 shares during the quarter. Investment Advisory Services Inc. TX ADV’s holdings in Independence Realty Trust were worth $446,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in Independence Realty Trust in the third quarter worth about $28,000. Blue Trust Inc. raised its position in shares of Independence Realty Trust by 295.9% during the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 1,527 shares during the period. Assetmark Inc. purchased a new stake in Independence Realty Trust during the third quarter valued at about $41,000. Avior Wealth Management LLC boosted its stake in Independence Realty Trust by 437.8% in the 3rd quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 2,443 shares during the period. Finally, Sunbelt Securities Inc. purchased a new position in shares of Independence Realty Trust during the third quarter valued at $64,000. 88.25% of the stock is currently owned by institutional investors.

Independence Realty Trust Trading Up 0.3 %

IRT opened at $19.92 on Friday. The stock has a market cap of $4.48 billion, a PE ratio of 17.43, a P/E/G ratio of 2.77 and a beta of 1.21. The stock’s 50 day simple moving average is $19.85 and its 200-day simple moving average is $20.03. Independence Realty Trust, Inc. has a 1 year low of $14.07 and a 1 year high of $22.26.

Independence Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Tuesday, December 31st.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $19.00 to $21.00 in a research note on Friday, November 15th. Barclays reduced their price objective on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.86.

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.