Focus Financial Network Inc. Sells 1,507 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Focus Financial Network Inc. cut its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,970 shares of the real estate investment trust’s stock after selling 1,507 shares during the quarter. Focus Financial Network Inc.’s holdings in Independence Realty Trust were worth $1,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA lifted its position in shares of Independence Realty Trust by 236.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,027,943 shares of the real estate investment trust’s stock worth $82,573,000 after purchasing an additional 2,829,247 shares during the period. Wellington Management Group LLP lifted its holdings in Independence Realty Trust by 24.4% in the third quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust’s stock worth $232,900,000 after buying an additional 2,225,371 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Independence Realty Trust by 419.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,433,058 shares of the real estate investment trust’s stock worth $29,378,000 after buying an additional 1,157,052 shares during the period. JPMorgan Chase & Co. boosted its position in Independence Realty Trust by 38.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust’s stock valued at $51,150,000 after acquiring an additional 686,630 shares in the last quarter. Finally, Easterly Investment Partners LLC purchased a new position in shares of Independence Realty Trust during the 3rd quarter worth approximately $11,132,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on IRT shares. JMP Securities restated a “market outperform” rating and issued a $22.00 target price on shares of Independence Realty Trust in a research note on Tuesday. BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $19.00 to $21.00 in a research report on Friday, November 15th. Finally, Barclays reduced their target price on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Independence Realty Trust currently has an average rating of “Moderate Buy” and an average price target of $20.86.

Independence Realty Trust Price Performance

Shares of NYSE:IRT opened at $20.16 on Wednesday. The business has a fifty day moving average price of $19.82 and a 200-day moving average price of $20.06. The company has a market capitalization of $4.54 billion, a PE ratio of 17.43, a PEG ratio of 2.77 and a beta of 1.21. Independence Realty Trust, Inc. has a 1-year low of $14.07 and a 1-year high of $22.26.

Independence Realty Trust Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.64 dividend on an annualized basis and a yield of 3.18%.

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.