Pacer Advisors Inc. Decreases Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Pacer Advisors Inc. trimmed its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 20.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 33,504 shares of the real estate investment trust’s stock after selling 8,535 shares during the period. Pacer Advisors Inc.’s holdings in Independence Realty Trust were worth $665,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in shares of Independence Realty Trust during the third quarter worth about $28,000. Blue Trust Inc. increased its position in shares of Independence Realty Trust by 295.9% during the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 1,527 shares in the last quarter. Assetmark Inc. acquired a new stake in shares of Independence Realty Trust during the third quarter worth about $41,000. Avior Wealth Management LLC increased its position in Independence Realty Trust by 437.8% in the 3rd quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 2,443 shares during the period. Finally, Sunbelt Securities Inc. acquired a new position in Independence Realty Trust in the 3rd quarter valued at about $64,000. 88.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. BMO Capital Markets upgraded Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $19.00 to $21.00 in a research report on Friday, November 15th. Barclays dropped their price target on Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.86.

Independence Realty Trust Trading Down 0.1 %

NYSE IRT opened at $19.20 on Tuesday. The business’s 50 day moving average is $20.08 and its two-hundred day moving average is $20.02. Independence Realty Trust, Inc. has a 12-month low of $14.07 and a 12-month high of $22.26. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.68 and a beta of 1.21.

Independence Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.33%. The ex-dividend date was Tuesday, December 31st.

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.