Pensionfund Sabic Has $645,000 Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Pensionfund Sabic decreased its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 9.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,500 shares of the real estate investment trust’s stock after selling 3,500 shares during the quarter. Pensionfund Sabic’s holdings in Independence Realty Trust were worth $645,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in IRT. Ashton Thomas Private Wealth LLC bought a new position in shares of Independence Realty Trust in the second quarter valued at $25,000. V Square Quantitative Management LLC bought a new position in shares of Independence Realty Trust in the 3rd quarter valued at about $28,000. Mattson Financial Services LLC bought a new position in shares of Independence Realty Trust in the 2nd quarter valued at about $28,000. Assetmark Inc. acquired a new position in shares of Independence Realty Trust during the 3rd quarter worth about $41,000. Finally, Blue Trust Inc. raised its holdings in shares of Independence Realty Trust by 295.9% in the 3rd quarter. Blue Trust Inc. now owns 2,043 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,527 shares during the period. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Shares of NYSE IRT opened at $19.24 on Tuesday. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 74.00, a P/E/G ratio of 3.07 and a beta of 1.21. The stock’s fifty day moving average price is $20.73 and its two-hundred day moving average price is $19.98. Independence Realty Trust, Inc. has a one year low of $14.07 and a one year high of $22.26.

Independence Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be paid a $0.16 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.64 annualized dividend and a dividend yield of 3.33%. Independence Realty Trust’s dividend payout ratio (DPR) is presently 246.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JMP Securities lifted their price target on Independence Realty Trust from $20.00 to $22.00 and gave the stock a “market outperform” rating in a report on Monday, September 9th. Barclays started coverage on Independence Realty Trust in a research note on Tuesday, December 17th. They set an “equal weight” rating and a $23.00 target price for the company. BMO Capital Markets upgraded Independence Realty Trust from an “underperform” rating to a “market perform” rating and increased their price target for the company from $19.00 to $21.00 in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Independence Realty Trust from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.14.

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.