Sound Income Strategies LLC Lowers Stock Position in Independence Realty Trust, Inc. (NYSE:IRT)

Sound Income Strategies LLC cut its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 25.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,603 shares of the real estate investment trust’s stock after selling 1,247 shares during the period. Sound Income Strategies LLC’s holdings in Independence Realty Trust were worth $58,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Peregrine Capital Management LLC purchased a new position in Independence Realty Trust during the fourth quarter valued at $7,728,000. Aurora Investment Managers LLC. lifted its holdings in Independence Realty Trust by 62.8% during the fourth quarter. Aurora Investment Managers LLC. now owns 33,382 shares of the real estate investment trust’s stock valued at $511,000 after purchasing an additional 12,876 shares in the last quarter. Lighthouse Investment Partners LLC lifted its holdings in Independence Realty Trust by 22.9% during the fourth quarter. Lighthouse Investment Partners LLC now owns 725,000 shares of the real estate investment trust’s stock valued at $11,092,000 after purchasing an additional 135,000 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in Independence Realty Trust by 19.3% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,960,798 shares of the real estate investment trust’s stock valued at $45,300,000 after purchasing an additional 479,379 shares in the last quarter. Finally, Kestra Private Wealth Services LLC purchased a new position in Independence Realty Trust during the fourth quarter valued at $994,000. 88.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IRT. JMP Securities increased their price objective on shares of Independence Realty Trust from $15.00 to $17.00 and gave the company a “market outperform” rating in a report on Wednesday, March 6th. TheStreet downgraded shares of Independence Realty Trust from a “c” rating to a “d+” rating in a research note on Friday, March 1st. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $17.00.

Independence Realty Trust Stock Performance

Independence Realty Trust stock opened at $18.30 on Thursday. Independence Realty Trust, Inc. has a 12-month low of $11.61 and a 12-month high of $18.56. The company has a 50-day moving average price of $16.83 and a 200 day moving average price of $15.89.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 28th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Friday, June 28th. Independence Realty Trust’s dividend payout ratio is presently -2,132.62%.

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.