Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 5.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 404,077 shares of the real estate investment trust’s stock after selling 22,700 shares during the period. New York State Teachers Retirement System owned about 0.18% of Independence Realty Trust worth $7,572,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Pathway Financial Advisers LLC purchased a new position in shares of Independence Realty Trust in the 1st quarter valued at about $31,000. Lazard Asset Management LLC purchased a new position in Independence Realty Trust in the first quarter valued at approximately $40,000. Advisors Asset Management Inc. raised its holdings in Independence Realty Trust by 146.6% during the first quarter. Advisors Asset Management Inc. now owns 2,833 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 1,684 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Independence Realty Trust during the 4th quarter worth approximately $60,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Independence Realty Trust during the 2nd quarter worth approximately $154,000. 88.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JMP Securities lifted their price target on shares of Independence Realty Trust from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. BTIG Research upped their target price on Independence Realty Trust from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $18.17.

Independence Realty Trust Price Performance

NYSE:IRT opened at $20.11 on Monday. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of -670.33, a price-to-earnings-growth ratio of 2.81 and a beta of 1.14. The firm’s fifty day moving average price is $18.96 and its 200 day moving average price is $17.07. Independence Realty Trust, Inc. has a 1-year low of $11.61 and a 1-year high of $20.26.

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, June 28th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.64 annualized dividend and a yield of 3.18%. Independence Realty Trust’s payout ratio is currently -2,133.33%.

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.