Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 19.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,320 shares of the real estate investment trust’s stock after selling 8,032 shares during the quarter. SG Americas Securities LLC’s holdings in Independence Realty Trust were worth $704,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of IRT. SageView Advisory Group LLC purchased a new stake in Independence Realty Trust during the fourth quarter worth $297,000. B. Riley Wealth Advisors Inc. increased its stake in shares of Independence Realty Trust by 57.3% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 66,544 shares of the real estate investment trust’s stock valued at $1,025,000 after purchasing an additional 24,238 shares in the last quarter. Pensionfund DSM Netherlands raised its holdings in Independence Realty Trust by 9.8% in the 1st quarter. Pensionfund DSM Netherlands now owns 90,000 shares of the real estate investment trust’s stock worth $1,452,000 after purchasing an additional 8,000 shares during the period. Pensionfund Sabic boosted its position in Independence Realty Trust by 25.7% during the first quarter. Pensionfund Sabic now owns 44,000 shares of the real estate investment trust’s stock worth $710,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Aurora Investment Managers LLC. grew its holdings in Independence Realty Trust by 214.2% in the first quarter. Aurora Investment Managers LLC. now owns 104,898 shares of the real estate investment trust’s stock valued at $1,692,000 after purchasing an additional 71,516 shares during the period. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

IRT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Independence Realty Trust from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. BTIG Research raised their price target on shares of Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, August 12th. KeyCorp boosted their price objective on Independence Realty Trust from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, JMP Securities raised their target price on Independence Realty Trust from $20.00 to $22.00 and gave the company a “market outperform” rating in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.57.

Independence Realty Trust Stock Up 2.2 %

Shares of NYSE:IRT opened at $19.19 on Monday. Independence Realty Trust, Inc. has a 52-week low of $11.61 and a 52-week high of $21.20. The stock has a market cap of $4.32 billion, a P/E ratio of -639.67, a PEG ratio of 2.79 and a beta of 1.17. The business has a fifty day moving average of $20.08 and a two-hundred day moving average of $18.27.

Independence Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Monday, September 30th will be issued a $0.16 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.64 annualized dividend and a yield of 3.34%. Independence Realty Trust’s payout ratio is -2,133.33%.

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.