Advisor Resource Council Has $634,000 Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Advisor Resource Council trimmed its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 41.6% during the third quarter, according to the company in its most recent disclosure 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 period. Advisor Resource Council’s holdings in Independence Realty Trust were worth $634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in IRT. Daiwa Securities Group Inc. increased its holdings in Independence Realty Trust by 6.9% during the first quarter. Daiwa Securities Group Inc. now owns 72,876 shares of the real estate investment trust’s stock worth $1,175,000 after buying an additional 4,695 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in Independence Realty Trust by 1.2% during the first quarter. Texas Permanent School Fund Corp now owns 196,125 shares of the real estate investment trust’s stock worth $3,163,000 after buying an additional 2,378 shares during the last quarter. SG Americas Securities LLC increased its holdings in Independence Realty Trust by 152.9% during the first quarter. SG Americas Securities LLC now owns 198,561 shares of the real estate investment trust’s stock worth $3,203,000 after buying an additional 120,062 shares during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in Independence Realty Trust during the first quarter worth $8,867,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Independence Realty Trust during the first quarter worth $1,673,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. BTIG Research upped their price objective on shares of Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, August 12th. JMP Securities upped their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Monday, September 9th. Finally, KeyCorp upped their price objective on shares of Independence Realty Trust from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.57.

Independence Realty Trust Stock Performance

Shares of Independence Realty Trust stock opened at $20.24 on Thursday. The firm has a 50-day moving average of $20.07 and a 200-day moving average of $18.74. The stock has a market cap of $4.55 billion, a PE ratio of 16.89, a PEG ratio of 2.75 and a beta of 1.17. Independence Realty Trust, Inc. has a 52-week low of $12.50 and a 52-week high of $21.20.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were given 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%.

Independence Realty Trust Company 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.