Mutual Advisors LLC Has $665,000 Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Mutual Advisors LLC lessened its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,944 shares of the real estate investment trust’s stock after selling 1,183 shares during the quarter. Mutual Advisors LLC’s holdings in Independence Realty Trust were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings 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 worth $232,900,000 after purchasing an additional 2,225,371 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Independence Realty Trust by 1.4% during the 3rd quarter. Jennison Associates LLC now owns 5,860,693 shares of the real estate investment trust’s stock worth $120,144,000 after purchasing an additional 83,030 shares in the last quarter. Geode Capital Management LLC boosted its stake in Independence Realty Trust by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,857,943 shares of the real estate investment trust’s stock valued at $120,108,000 after buying an additional 50,788 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Independence Realty Trust by 236.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,027,943 shares of the real estate investment trust’s stock valued at $82,573,000 after buying an additional 2,829,247 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Independence Realty Trust by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,500,696 shares of the real estate investment trust’s stock valued at $71,764,000 after buying an additional 137,464 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Independence Realty Trust Stock Performance

Shares of IRT opened at $18.80 on Monday. The stock has a fifty day moving average price of $20.31 and a two-hundred day moving average price of $20.00. Independence Realty Trust, Inc. has a 52-week low of $14.07 and a 52-week high of $22.26. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 2.61 and a beta of 1.21.

Independence Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were given a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.64 annualized dividend and a yield of 3.41%.

Wall Street Analyst Weigh In

Several analysts recently commented on IRT shares. Barclays decreased their price target on Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday. BMO Capital Markets raised Independence Realty Trust from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $19.00 to $21.00 in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Independence Realty Trust has a consensus rating of “Moderate Buy” and an average target price of $20.86.

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.