Harbour Investments Inc. Sells 5,986 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Harbour Investments Inc. lessened its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 17.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,755 shares of the real estate investment trust’s stock after selling 5,986 shares during the period. Harbour Investments Inc.’s holdings in Independence Realty Trust were worth $571,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP lifted its stake in Independence Realty Trust by 24.4% in the third 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. Jennison Associates LLC lifted its position in shares of Independence Realty Trust by 4.8% during the 4th quarter. Jennison Associates LLC now owns 6,139,652 shares of the real estate investment trust’s stock valued at $121,811,000 after acquiring an additional 278,959 shares during the period. Geode Capital Management LLC boosted its stake in Independence Realty Trust by 0.9% during the third quarter. Geode Capital Management LLC now owns 5,857,943 shares of the real estate investment trust’s stock worth $120,108,000 after acquiring an additional 50,788 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Independence Realty Trust by 236.0% in 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. Finally, Charles Schwab Investment Management Inc. increased its stake in Independence Realty Trust by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,561,615 shares of the real estate investment trust’s stock valued at $70,662,000 after purchasing an additional 60,919 shares in the last quarter. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Trading Down 0.4 %

Shares of Independence Realty Trust stock opened at $20.86 on Friday. The stock has a fifty day simple moving average of $20.09 and a 200 day simple moving average of $20.29. Independence Realty Trust, Inc. has a 12-month low of $15.25 and a 12-month high of $22.26. The company has a market capitalization of $4.82 billion, a P/E ratio of 115.86, a price-to-earnings-growth ratio of 2.91 and a beta of 1.18.

Independence Realty Trust (NYSE:IRT) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, beating 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%. On average, analysts predict that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, March 28th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Friday, March 28th. Independence Realty Trust’s dividend payout ratio is presently 355.56%.

Wall Street Analyst Weigh In

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

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.