Centaurus Financial Inc. Cuts Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Centaurus Financial Inc. lessened its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 2.5% in the third quarter, Holdings Channel reports. The fund owned 42,555 shares of the real estate investment trust’s stock after selling 1,069 shares during the quarter. Centaurus Financial Inc.’s holdings in Independence Realty Trust were worth $872,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bayesian Capital Management LP acquired a new stake in shares of Independence Realty Trust during the 1st quarter valued at approximately $499,000. Boston Partners bought a new stake in Independence Realty Trust during the 1st quarter valued at $892,000. Hilton Capital Management LLC bought a new position in Independence Realty Trust in the 3rd quarter valued at about $7,573,000. Cetera Advisors LLC raised its holdings in Independence Realty Trust by 132.9% during the first quarter. Cetera Advisors LLC now owns 241,924 shares of the real estate investment trust’s stock worth $3,902,000 after purchasing an additional 138,028 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in Independence Realty Trust by 169.3% during the first quarter. Cetera Investment Advisers now owns 409,724 shares of the real estate investment trust’s stock valued at $6,609,000 after buying an additional 257,555 shares in the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Shares of NYSE IRT opened at $21.75 on Tuesday. Independence Realty Trust, Inc. has a twelve month low of $13.24 and a twelve month high of $22.26. The business’s 50 day moving average price is $20.25 and its two-hundred day moving average price is $19.22. The company has a market cap of $4.90 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 3.11 and a beta of 1.17.

Independence Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were issued a $0.16 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.64 annualized dividend and a dividend yield of 2.94%.

Analyst Ratings Changes

A number of analysts have commented on the stock. 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 research note on Monday, September 9th. BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $19.00 to $21.00 in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft increased their price target on Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. BTIG Research raised their target price on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, KeyCorp lifted their target price on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.43.

About Independence Realty Trust

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.