J.W. Cole Advisors Inc. Sells 2,343 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

J.W. Cole Advisors Inc. lessened its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,560 shares of the real estate investment trust’s stock after selling 2,343 shares during the period. J.W. Cole Advisors Inc.’s holdings in Independence Realty Trust were worth $621,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IRT. Peregrine Capital Management LLC acquired a new position in shares of Independence Realty Trust during the fourth quarter worth about $7,728,000. Aurora Investment Managers LLC. boosted its position in Independence Realty Trust by 62.8% during the 4th quarter. Aurora Investment Managers LLC. now owns 33,382 shares of the real estate investment trust’s stock worth $511,000 after acquiring an additional 12,876 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Independence Realty Trust by 2.4% during the 3rd quarter. Jennison Associates LLC now owns 3,187,637 shares of the real estate investment trust’s stock worth $44,850,000 after acquiring an additional 75,700 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Independence Realty Trust by 27.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 170,844 shares of the real estate investment trust’s stock valued at $2,404,000 after purchasing an additional 37,034 shares during the last quarter. Finally, Sound Income Strategies LLC raised its holdings in shares of Independence Realty Trust by 36.1% in the fourth quarter. Sound Income Strategies LLC now owns 4,850 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 1,287 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Trading Up 1.3 %

Shares of NYSE:IRT opened at $15.83 on Tuesday. Independence Realty Trust, Inc. has a 52-week low of $11.61 and a 52-week high of $18.77. The company has a 50-day simple moving average of $15.60 and a 200 day simple moving average of $14.75.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, March 29th were given a $0.16 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.04%. Independence Realty Trust’s payout ratio is -914.16%.

Wall Street Analysts Forecast Growth

IRT has been the subject of a number of analyst reports. Barclays decreased their target price on shares of Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. Royal Bank of Canada raised their price objective on Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Deutsche Bank Aktiengesellschaft assumed coverage on Independence Realty Trust in a report on Tuesday, January 30th. They set a “buy” rating and a $18.00 target price on the stock. JMP Securities raised their price target on Independence Realty Trust from $15.00 to $17.00 and gave the company a “market outperform” rating in a research note on Wednesday, March 6th. Finally, TheStreet lowered Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Independence Realty Trust presently has an average rating of “Hold” and an average price target of $17.00.

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.