Thrivent Financial for Lutherans Cuts Stock Holdings in Independence Realty Trust, Inc. $IRT

Thrivent Financial for Lutherans reduced its position in Independence Realty Trust, Inc. (NYSE:IRT) by 45.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 196,056 shares of the real estate investment trust’s stock after selling 164,159 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Independence Realty Trust were worth $3,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Long Pond Capital LP raised its position in shares of Independence Realty Trust by 564.5% in the second quarter. Long Pond Capital LP now owns 5,500,502 shares of the real estate investment trust’s stock worth $97,304,000 after acquiring an additional 4,672,690 shares during the period. Balyasny Asset Management L.P. acquired a new position in Independence Realty Trust in the 2nd quarter worth about $30,368,000. Norges Bank purchased a new position in Independence Realty Trust during the second quarter worth approximately $17,642,000. Jennison Associates LLC grew its holdings in Independence Realty Trust by 12.9% in the second quarter. Jennison Associates LLC now owns 6,926,454 shares of the real estate investment trust’s stock valued at $122,529,000 after purchasing an additional 789,515 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC increased its position in shares of Independence Realty Trust by 32.8% in the second quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,966,540 shares of the real estate investment trust’s stock valued at $52,478,000 after buying an additional 732,689 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wall Street Zen lowered Independence Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Colliers Securities cut shares of Independence Realty Trust from a “moderate buy” rating to a “hold” rating in a research report on Thursday, December 4th. KeyCorp dropped their target price on shares of Independence Realty Trust from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, December 4th. Barclays upped their price target on shares of Independence Realty Trust from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Finally, Zacks Research cut Independence Realty Trust from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.35.

Independence Realty Trust Trading Up 1.4%

IRT stock opened at $16.62 on Monday. The firm has a 50-day moving average of $17.02 and a two-hundred day moving average of $16.91. Independence Realty Trust, Inc. has a 12 month low of $15.06 and a 12 month high of $21.86. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 166.18, a PEG ratio of 2.02 and a beta of 1.00.

Independence Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 23rd. Investors of record on Wednesday, December 31st were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.68 dividend on an annualized basis and a yield of 4.1%. Independence Realty Trust’s dividend payout ratio (DPR) is presently 680.00%.

Independence Realty Trust Company Profile

Independence Realty Trust is a self-administered equity real estate investment trust that acquires, redevelops and manages multi-family communities. The company focuses on workforce housing, targeting Class A and B garden-style apartments in suburban and urban infill locations. Its core activities include sourcing value-add acquisitions, overseeing property renovations and delivering in-house property management services to optimize rental income and occupancy levels.

Headquartered in Wayne, Pennsylvania, Independence Realty Trust maintains a geographically diverse portfolio across several high-growth U.S.