Great Valley Advisor Group Inc. Decreases Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Great Valley Advisor Group Inc. trimmed its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 5.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,737 shares of the real estate investment trust’s stock after selling 1,200 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Independence Realty Trust were worth $370,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Advisor Resource Council purchased a new stake in shares of Independence Realty Trust during the 1st quarter valued at about $936,000. Bayesian Capital Management LP purchased a new stake in shares of Independence Realty Trust during the 1st quarter valued at about $499,000. Vanguard Group Inc. raised its position in shares of Independence Realty Trust by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 32,744,270 shares of the real estate investment trust’s stock valued at $528,165,000 after buying an additional 343,334 shares in the last quarter. Lighthouse Investment Partners LLC raised its position in shares of Independence Realty Trust by 22.9% during the 4th quarter. Lighthouse Investment Partners LLC now owns 725,000 shares of the real estate investment trust’s stock valued at $11,092,000 after buying an additional 135,000 shares in the last quarter. Finally, Boston Partners purchased a new stake in shares of Independence Realty Trust during the 1st quarter valued at about $892,000. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Independence Realty Trust Stock Up 0.2 %

Shares of IRT stock opened at $19.70 on Thursday. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of -656.50, a PEG ratio of 2.81 and a beta of 1.14. The company’s 50 day moving average is $18.67 and its 200 day moving average is $16.82. Independence Realty Trust, Inc. has a 52-week low of $11.61 and a 52-week high of $20.08.

Independence Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, June 28th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.25%. The ex-dividend date was Friday, June 28th. Independence Realty Trust’s dividend payout ratio is currently -2,133.33%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JMP Securities increased their price objective on shares of Independence Realty Trust from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, August 2nd. BTIG Research raised their price objective on shares of Independence Realty Trust from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday. Two analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $18.17.

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.