Inspire Investing LLC Sells 3,704 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Inspire Investing LLC trimmed its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 15.3% in the 4th quarter, HoldingsChannel reports. The fund owned 20,446 shares of the real estate investment trust’s stock after selling 3,704 shares during the quarter. Inspire Investing LLC’s holdings in Independence Realty Trust were worth $406,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Mattson Financial Services LLC purchased a new stake in shares of Independence Realty Trust during the 2nd quarter valued at $28,000. V Square Quantitative Management LLC acquired a new position in Independence Realty Trust during the 3rd quarter valued at about $28,000. Blue Trust Inc. raised its stake in Independence Realty Trust by 295.9% in the third quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 1,527 shares during the last quarter. Assetmark Inc. acquired a new stake in Independence Realty Trust in the third quarter worth about $41,000. Finally, Avior Wealth Management LLC grew its stake in shares of Independence Realty Trust by 437.8% during the third quarter. Avior Wealth Management LLC now owns 3,001 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 2,443 shares during the last quarter. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Independence Realty Trust Trading Up 0.1 %

IRT opened at $18.80 on Friday. The firm has a 50 day moving average of $20.31 and a two-hundred day moving average of $19.99. The firm has a market capitalization of $4.23 billion, a PE ratio of 16.47, a P/E/G ratio of 2.61 and a beta of 1.21. Independence Realty Trust, Inc. has a 12-month low of $14.07 and a 12-month high of $22.26.

Independence Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were issued a $0.16 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.64 annualized dividend and a dividend yield of 3.41%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $19.00 to $21.00 in a research report on Friday, November 15th. Barclays lowered their price objective on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.86.

Independence Realty Trust 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.