Independence Realty Trust, Inc. (NYSE:IRT) Stake Trimmed by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp lessened its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 1.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,425 shares of the real estate investment trust’s stock after selling 1,200 shares during the period. Atlantic Union Bankshares Corp’s holdings in Independence Realty Trust were worth $975,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp lifted its position in shares of Independence Realty Trust by 83.9% in the 4th quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 1,183 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Independence Realty Trust in the fourth quarter valued at $60,000. Allworth Financial LP boosted its position in shares of Independence Realty Trust by 37.0% in the fourth quarter. Allworth Financial LP now owns 4,237 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 1,145 shares during the period. Sound Income Strategies LLC grew its holdings in shares of Independence Realty Trust by 36.1% during the fourth quarter. Sound Income Strategies LLC now owns 4,850 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 1,287 shares in the last quarter. Finally, Lindbrook Capital LLC raised its position in Independence Realty Trust by 19.8% during the fourth quarter. Lindbrook Capital LLC now owns 6,379 shares of the real estate investment trust’s stock valued at $98,000 after buying an additional 1,054 shares during the period. 88.25% of the stock is owned by hedge funds and other institutional investors.

Independence Realty Trust Stock Up 1.5 %

IRT opened at $18.74 on Friday. Independence Realty Trust, Inc. has a fifty-two week low of $11.61 and a fifty-two week high of $18.82. The business has a 50-day moving average of $17.01 and a 200-day moving average of $15.95.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, June 28th will be issued a $0.16 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.64 dividend on an annualized basis and a yield of 3.42%. Independence Realty Trust’s dividend payout ratio is currently -2,132.62%.

Analyst Ratings Changes

Several research firms have weighed in on IRT. TheStreet cut Independence Realty Trust from a “c” rating to a “d+” rating in a research note on Friday, March 1st. JMP Securities upped 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 research note on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.00.

About Independence Realty Trust

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.