Independence Realty Trust, Inc. (NYSE:IRT) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 113,037 shares of the real estate investment trust’s stock after selling 8,428 shares during the period. Nisa Investment Advisors LLC’s holdings in Independence Realty Trust were worth $1,729,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in IRT. Farther Finance Advisors LLC grew its holdings in shares of Independence Realty Trust by 157.5% during the second quarter. Farther Finance Advisors LLC now owns 1,553 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 950 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Independence Realty Trust during the fourth quarter valued at $31,000. Hibernia Wealth Partners LLC purchased a new stake in shares of Independence Realty Trust during the third quarter valued at $33,000. Fifth Third Bancorp grew its holdings in shares of Independence Realty Trust by 83.9% during the fourth quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 1,183 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in Independence Realty Trust by 176.2% in the second quarter. IFP Advisors Inc now owns 3,000 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 1,914 shares during the last quarter. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Stock Performance

NYSE:IRT opened at $16.00 on Monday. Independence Realty Trust, Inc. has a fifty-two week low of $11.61 and a fifty-two week high of $18.77. The stock has a market capitalization of $3.60 billion, a P/E ratio of -228.54, a PEG ratio of 2.34 and a beta of 1.07. The company has a 50 day moving average price of $15.50 and a 200 day moving average price of $14.67.

Independence Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Shareholders of record on Friday, March 29th will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.64 annualized dividend and a yield of 4.00%. Independence Realty Trust’s dividend payout ratio is presently -914.16%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on IRT shares. JMP Securities upped their price target on shares of Independence Realty Trust from $15.00 to $17.00 and gave the company a “market outperform” rating in a report on Wednesday, March 6th. TheStreet downgraded shares of Independence Realty Trust from a “c” rating to a “d+” rating in a research report on Friday, March 1st. Deutsche Bank Aktiengesellschaft started coverage on shares of Independence Realty Trust in a research report on Tuesday, January 30th. They issued a “buy” rating and a $18.00 price objective for the company. Royal Bank of Canada upped their price target on shares of Independence Realty Trust from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Finally, Barclays cut their price objective on shares of Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, Independence Realty Trust has an average rating of “Hold” and a consensus price target of $17.00.

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.