Jump Financial LLC Trims Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Jump Financial LLC cut its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 46.5% in the fourth quarter, HoldingsChannel reports. The firm owned 149,458 shares of the real estate investment trust’s stock after selling 130,032 shares during the period. Jump Financial LLC’s holdings in Independence Realty Trust were worth $2,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. SMART Wealth LLC purchased a new position in Independence Realty Trust in the 3rd quarter worth approximately $873,000. Barclays PLC raised its position in Independence Realty Trust by 182.3% in the third quarter. Barclays PLC now owns 400,376 shares of the real estate investment trust’s stock valued at $8,208,000 after purchasing an additional 258,549 shares during the period. Franklin Resources Inc. lifted its stake in Independence Realty Trust by 12.3% during the third quarter. Franklin Resources Inc. now owns 256,234 shares of the real estate investment trust’s stock worth $4,981,000 after purchasing an additional 28,059 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Independence Realty Trust by 38.0% during the third quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust’s stock worth $51,150,000 after buying an additional 686,630 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of 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 buying an additional 60,919 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Jefferies Financial Group upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and raised their target price for the company from $20.00 to $24.00 in a report on Monday, March 10th. JMP Securities restated a “market outperform” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday, February 11th. Barclays increased their target price on shares of Independence Realty Trust from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, April 11th. Wells Fargo & Company started coverage on shares of Independence Realty Trust in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $24.00 price target for the company. Finally, UBS Group assumed coverage on Independence Realty Trust in a research note on Monday, April 7th. They issued a “buy” rating and a $24.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Independence Realty Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.33.

Insider Activity

In related news, CEO Scott Schaeffer sold 10,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $21.21, for a total value of $212,100.00. Following the completion of the sale, the chief executive officer now directly owns 873,365 shares of the company’s stock, valued at $18,524,071.65. The trade was a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.58% of the company’s stock.

Independence Realty Trust Price Performance

Independence Realty Trust stock opened at $19.09 on Friday. The stock has a market cap of $4.41 billion, a PE ratio of 106.07, a P/E/G ratio of 2.91 and a beta of 0.98. The stock’s fifty day moving average is $20.33 and its two-hundred day moving average is $20.15. Independence Realty Trust, Inc. has a 1-year low of $15.27 and a 1-year high of $22.26.

Independence Realty Trust (NYSE:IRT) last issued 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 return on equity of 1.11% and a net margin of 6.15%. On average, research analysts expect that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current fiscal year.

Independence Realty Trust Dividend Announcement

The business 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 3.35%. The ex-dividend date is Friday, March 28th. Independence Realty Trust’s payout ratio is 355.56%.

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.