SMART Wealth LLC Sells 5,878 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

SMART Wealth LLC cut its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 13.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,714 shares of the real estate investment trust’s stock after selling 5,878 shares during the quarter. SMART Wealth LLC’s holdings in Independence Realty Trust were worth $728,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Independence Realty Trust by 0.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,984 shares of the real estate investment trust’s stock valued at $2,050,000 after purchasing an additional 526 shares during the period. State of Alaska Department of Revenue increased its position in shares of Independence Realty Trust by 0.5% during the fourth quarter. State of Alaska Department of Revenue now owns 133,831 shares of the real estate investment trust’s stock valued at $2,654,000 after buying an additional 643 shares during the period. Blue Trust Inc. increased its position in shares of Independence Realty Trust by 33.9% during the fourth quarter. Blue Trust Inc. now owns 2,735 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 692 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of Independence Realty Trust by 20.5% in the fourth quarter. Sound Income Strategies LLC now owns 4,295 shares of the real estate investment trust’s stock worth $85,000 after buying an additional 732 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of Independence Realty Trust by 1.3% in the third quarter. Handelsbanken Fonder AB now owns 69,961 shares of the real estate investment trust’s stock valued at $1,434,000 after acquiring an additional 900 shares during the period. Institutional investors own 88.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on IRT shares. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $19.00 to $21.00 in a report on Friday, November 15th. Barclays decreased their price target on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.86.

Independence Realty Trust Stock Performance

Shares of NYSE:IRT opened at $19.85 on Friday. The firm has a fifty day moving average of $19.93 and a 200 day moving average of $20.02. Independence Realty Trust, Inc. has a 52-week low of $14.07 and a 52-week high of $22.26. The firm has a market capitalization of $4.47 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 2.68 and a beta of 1.21.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.64 annualized dividend and a dividend yield of 3.22%.

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.