Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by AlphaCrest Capital Management LLC

AlphaCrest Capital Management LLC decreased its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT – Get Rating) by 15.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,637 shares of the real estate investment trust’s stock after selling 4,668 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Independence Realty Trust were worth $412,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC increased its stake in Independence Realty Trust by 3.4% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,452 shares of the real estate investment trust’s stock worth $320,000 after buying an additional 506 shares during the period. Apollon Wealth Management LLC increased its stake in Independence Realty Trust by 0.8% during the 2nd quarter. Apollon Wealth Management LLC now owns 65,793 shares of the real estate investment trust’s stock worth $1,364,000 after buying an additional 524 shares during the period. Paradigm Financial Partners LLC increased its stake in Independence Realty Trust by 0.4% during the 3rd quarter. Paradigm Financial Partners LLC now owns 203,770 shares of the real estate investment trust’s stock worth $3,328,000 after buying an additional 868 shares during the period. Strategic Blueprint LLC increased its stake in Independence Realty Trust by 5.6% during the 2nd quarter. Strategic Blueprint LLC now owns 16,998 shares of the real estate investment trust’s stock worth $352,000 after buying an additional 905 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Independence Realty Trust by 1.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 88,681 shares of the real estate investment trust’s stock worth $1,838,000 after buying an additional 1,122 shares during the period. Hedge funds and other institutional investors own 81.01% of the company’s stock.

Independence Realty Trust Price Performance

NYSE:IRT opened at $16.66 on Friday. Independence Realty Trust, Inc. has a 12-month low of $15.04 and a 12-month high of $28.42. The firm has a market capitalization of $3.74 billion, a P/E ratio of 31.43, a P/E/G ratio of 7.67 and a beta of 1.00. The business has a 50 day simple moving average of $18.09 and a 200 day simple moving average of $17.72.

Independence Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 20th. Shareholders of record on Friday, December 30th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.36%. The ex-dividend date was Thursday, December 29th. Independence Realty Trust’s payout ratio is currently 105.66%.

Analysts Set New Price Targets

Several research firms have recently weighed in on IRT. Barclays boosted their target price on shares of Independence Realty Trust from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 1st. Deutsche Bank Aktiengesellschaft downgraded shares of Independence Realty Trust from a “buy” rating to a “hold” rating and dropped their target price for the stock from $22.00 to $19.00 in a research report on Wednesday, January 4th. Citigroup boosted their target price on shares of Independence Realty Trust from $18.50 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, February 23rd. KeyCorp dropped their target price on shares of Independence Realty Trust from $25.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, December 7th. Finally, Jefferies Financial Group downgraded shares of Independence Realty Trust from a “buy” rating to a “hold” rating and dropped their target price for the stock from $20.00 to $17.00 in a research report on Monday, January 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.81.

Independence Realty Trust Profile

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Independence Realty Trust, Inc is a real estate investment trust, which acquires, owns, operates, improves and manages multifamily apartment communities across non-gateway U.S. markets. It aims to provide stockholders risk-adjusted returns through diligent portfolio management, operational performance and consistent return of capital through distributions and capital appreciation.