Credit Suisse AG Sells 16,802 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Credit Suisse AG lessened its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 5.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 286,320 shares of the real estate investment trust’s stock after selling 16,802 shares during the period. Credit Suisse AG owned approximately 0.13% of Independence Realty Trust worth $4,590,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in IRT. Ziegler Capital Management LLC boosted its position in shares of Independence Realty Trust by 0.3% during the first quarter. Ziegler Capital Management LLC now owns 242,292 shares of the real estate investment trust’s stock valued at $3,884,000 after buying an additional 656 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its position in Independence Realty Trust by 1.1% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 63,209 shares of the real estate investment trust’s stock valued at $1,066,000 after acquiring an additional 679 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Independence Realty Trust by 1.3% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 65,231 shares of the real estate investment trust’s stock worth $1,106,000 after purchasing an additional 821 shares during the period. Sound Income Strategies LLC lifted its position in shares of Independence Realty Trust by 31.4% during the first quarter. Sound Income Strategies LLC now owns 3,563 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 852 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Independence Realty Trust by 1.3% during the second 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 purchasing an additional 1,122 shares during the last quarter. 85.24% of the stock is owned by hedge funds and other institutional investors.

Independence Realty Trust Price Performance

IRT opened at $16.86 on Wednesday. The firm has a market capitalization of $3.79 billion, a PE ratio of 54.37, a price-to-earnings-growth ratio of 7.16 and a beta of 0.99. The business’s 50-day moving average is $17.19 and its two-hundred day moving average is $17.07. Independence Realty Trust, Inc. has a 1 year low of $14.55 and a 1 year high of $20.63.

Analyst Upgrades and Downgrades

IRT has been the topic of several recent analyst reports. BMO Capital Markets downgraded shares of Independence Realty Trust from an “outperform” rating to a “market perform” rating and set a $19.00 price target on the stock. in a research note on Tuesday, July 18th. Barclays lowered their price target on Independence Realty Trust from $24.00 to $22.00 in a report on Wednesday, May 31st. JMP Securities raised Independence Realty Trust from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research report on Monday, May 8th. Finally, StockNews.com began coverage on Independence Realty Trust in a research report on Thursday, August 17th. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $19.89.

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.