United Services Automobile Association Sells 930 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

United Services Automobile Association cut its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 6.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,859 shares of the real estate investment trust’s stock after selling 930 shares during the period. United Services Automobile Association’s holdings in Independence Realty Trust were worth $275,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Natixis Advisors LLC boosted its position in Independence Realty Trust by 17.1% during the third quarter. Natixis Advisors LLC now owns 94,845 shares of the real estate investment trust’s stock valued at $1,945,000 after purchasing an additional 13,856 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Independence Realty Trust during the 3rd quarter worth approximately $189,000. Pathstone Holdings LLC boosted its holdings in shares of Independence Realty Trust by 140.5% in the 3rd quarter. Pathstone Holdings LLC now owns 101,272 shares of the real estate investment trust’s stock valued at $2,076,000 after buying an additional 59,157 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of Independence Realty Trust by 437.8% in the third quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 2,443 shares in the last quarter. Finally, Commerce Bank acquired a new position in Independence Realty Trust during the third quarter worth $460,000. 88.25% of the stock is currently owned by institutional investors and hedge funds.

Independence Realty Trust Trading Up 1.3 %

Shares of NYSE IRT opened at $21.00 on Tuesday. The firm has a market cap of $4.85 billion, a P/E ratio of 116.69, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19. The business’s 50 day moving average is $20.19 and its 200-day moving average is $20.29. Independence Realty Trust, Inc. has a 1-year low of $15.25 and a 1-year high of $22.26.

Independence Realty Trust (NYSE:IRT) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.24. Independence Realty Trust had a return on equity of 1.11% and a net margin of 6.15%. Analysts forecast that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, March 28th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.05%. Independence Realty Trust’s payout ratio is presently 355.56%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Jefferies Financial Group raised shares of Independence Realty Trust from a “hold” rating to a “buy” rating and lifted their price objective for the company from $20.00 to $24.00 in a research report on Monday, March 10th. Wells Fargo & Company began coverage on Independence Realty Trust in a research report on Wednesday, March 19th. They set an “overweight” rating and a $24.00 price target on the stock. JMP Securities restated a “market outperform” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a research note on Tuesday, February 11th. Finally, Barclays reduced their target price on Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.00.

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.