Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by Bailard Inc.

Bailard Inc. decreased its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 32.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,300 shares of the real estate investment trust’s stock after selling 5,000 shares during the quarter. Bailard Inc.’s holdings in Independence Realty Trust were worth $204,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its stake in Independence Realty Trust by 236.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,027,943 shares of the real estate investment trust’s stock worth $82,573,000 after purchasing an additional 2,829,247 shares during the period. Wellington Management Group LLP raised its position in shares of Independence Realty Trust by 24.4% during the 3rd quarter. Wellington Management Group LLP now owns 11,360,979 shares of the real estate investment trust’s stock valued at $232,900,000 after buying an additional 2,225,371 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Independence Realty Trust by 419.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,433,058 shares of the real estate investment trust’s stock valued at $29,378,000 after buying an additional 1,157,052 shares during the period. JPMorgan Chase & Co. lifted its holdings in Independence Realty Trust by 38.0% in the third quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust’s stock valued at $51,150,000 after acquiring an additional 686,630 shares during the last quarter. Finally, Easterly Investment Partners LLC purchased a new position in Independence Realty Trust in the third quarter worth approximately $11,132,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Shares of NYSE:IRT opened at $21.48 on Thursday. The firm has a market capitalization of $4.96 billion, a PE ratio of 119.31, a price-to-earnings-growth ratio of 2.91 and a beta of 1.18. Independence Realty Trust, Inc. has a 1 year low of $15.23 and a 1 year high of $22.26. The firm’s 50-day moving average is $19.80 and its two-hundred day moving average is $20.23.

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

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.64 annualized dividend and a yield of 2.98%. Independence Realty Trust’s payout ratio is 355.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on IRT shares. Barclays reduced their target price on Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. 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 company from $19.00 to $21.00 in a research report on Friday, November 15th. Finally, JMP Securities reiterated a “market outperform” rating and set a $22.00 price target on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.33.

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.