Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC cut its holdings in Independence Realty Trust, Inc. (NYSE:IRT) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,795 shares of the real estate investment trust’s stock after selling 2,658 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Independence Realty Trust were worth $492,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Global Retirement Partners LLC grew its stake in shares of Independence Realty Trust by 66.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,310 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 521 shares during the last quarter. Assetmark Inc. bought a new stake in shares of Independence Realty Trust during the 3rd quarter worth $41,000. SRS Capital Advisors Inc. grew its holdings in shares of Independence Realty Trust by 627.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,328 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 2,008 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Independence Realty Trust by 67.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,491 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 1,000 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Independence Realty Trust by 33.9% during the fourth quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 692 shares during the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Price Performance

NYSE:IRT opened at $20.98 on Tuesday. The stock has a market cap of $4.85 billion, a PE ratio of 116.58, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19. Independence Realty Trust, Inc. has a fifty-two week low of $15.23 and a fifty-two week high of $22.26. The stock’s 50-day moving average is $19.97 and its two-hundred day moving average is $20.28.

Independence Realty Trust (NYSE:IRT) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.24. Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.11%. On average, equities research analysts anticipate that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Friday, March 28th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a yield of 3.05%. Independence Realty Trust’s payout ratio is 355.56%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IRT. Barclays dropped their price target on Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. JMP Securities reissued a “market outperform” rating and issued a $22.00 target price on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Finally, Jefferies Financial Group upgraded shares of Independence Realty Trust from a “hold” rating to a “buy” rating and upped their price target for the company from $20.00 to $24.00 in a research report on Monday, March 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Independence Realty Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

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.