Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by Slocum Gordon & Co LLP

Slocum Gordon & Co LLP trimmed its position in Independence Realty Trust, Inc. (NYSE:IRT) by 2.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 109,333 shares of the real estate investment trust’s stock after selling 2,755 shares during the period. Independence Realty Trust accounts for 1.8% of Slocum Gordon & Co LLP’s investment portfolio, making the stock its 17th biggest holding. Slocum Gordon & Co LLP’s holdings in Independence Realty Trust were worth $2,169,000 at the end of the most recent reporting period.

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

Independence Realty Trust Stock Up 0.7 %

IRT stock opened at $19.85 on Friday. Independence Realty Trust, Inc. has a 52-week low of $14.07 and a 52-week high of $22.26. The company’s 50-day simple moving average is $19.89 and its 200-day simple moving average is $20.02. The firm has a market cap of $4.47 billion, a P/E ratio of 16.85, a PEG ratio of 2.68 and a beta of 1.21.

Independence Realty Trust Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently issued reports on IRT. BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $19.00 to $21.00 in a research report on Friday, November 15th. Barclays lowered their target price on Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average 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.