Mutual Advisors LLC Sells 1,183 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Mutual Advisors LLC lowered its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 3.3% in the fourth quarter, HoldingsChannel reports. The fund owned 34,944 shares of the real estate investment trust’s stock after selling 1,183 shares during the period. Mutual Advisors LLC’s holdings in Independence Realty Trust were worth $665,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hilton Capital Management LLC bought a new stake in shares of Independence Realty Trust during the third quarter worth $7,573,000. SMART Wealth LLC bought a new stake in shares of Independence Realty Trust during the third quarter worth $873,000. Barclays PLC raised its position in shares of Independence Realty Trust by 182.3% during the third quarter. Barclays PLC now owns 400,376 shares of the real estate investment trust’s stock worth $8,208,000 after acquiring an additional 258,549 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Independence Realty Trust by 38.0% in the third quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust’s stock valued at $51,150,000 after purchasing an additional 686,630 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Independence Realty Trust in the third quarter valued at about $1,594,000. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Trading Up 0.1 %

NYSE:IRT opened at $18.80 on Monday. Independence Realty Trust, Inc. has a 1 year low of $14.07 and a 1 year high of $22.26. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 2.61 and a beta of 1.21. The stock has a 50-day moving average price of $20.31 and a two-hundred day moving average price of $20.00.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.64 dividend on an annualized basis and a yield of 3.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays dropped their price objective on Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday. BMO Capital Markets upgraded Independence Realty Trust from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $19.00 to $21.00 in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Independence Realty Trust has a consensus rating of “Moderate Buy” and an average price target of $20.86.

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.