Focus Financial Network Inc. Decreases Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Focus Financial Network Inc. lowered its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,970 shares of the real estate investment trust’s stock after selling 1,507 shares during the quarter. Focus Financial Network Inc.’s holdings in Independence Realty Trust were worth $1,269,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of Independence Realty Trust during the 3rd quarter valued at about $28,000. Blue Trust Inc. grew its position in 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 valued at $38,000 after buying an additional 1,527 shares during the period. Assetmark Inc. bought a new stake in Independence Realty Trust during the third quarter valued at approximately $41,000. Avior Wealth Management LLC increased its holdings in 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 valued at $62,000 after buying an additional 2,443 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new position in Independence Realty Trust in the third quarter worth approximately $64,000. Institutional investors own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on IRT shares. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $19.00 to $21.00 in a research report on Friday, November 15th. JMP Securities reiterated a “market outperform” rating and set a $22.00 target price on shares of Independence Realty Trust in a research report on Tuesday. Finally, Barclays reduced their price target on Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Independence Realty Trust currently has an average rating of “Moderate Buy” and an average target price of $20.86.

Independence Realty Trust Stock Performance

Shares of Independence Realty Trust stock opened at $20.16 on Wednesday. Independence Realty Trust, Inc. has a fifty-two week low of $14.07 and a fifty-two week high of $22.26. The company has a market capitalization of $4.54 billion, a P/E ratio of 17.43, a P/E/G ratio of 2.77 and a beta of 1.21. The company has a fifty day moving average of $19.82 and a 200 day moving average of $20.06.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Tuesday, December 31st.

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.