Arizona State Retirement System Has $961,000 Stock Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Arizona State Retirement System trimmed its position in Independence Realty Trust, Inc. (NYSE:IRT) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,816 shares of the real estate investment trust’s stock after selling 1,131 shares during the quarter. Arizona State Retirement System’s holdings in Independence Realty Trust were worth $961,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aurora Investment Managers LLC. grew its holdings in Independence Realty Trust by 62.8% in the 4th quarter. Aurora Investment Managers LLC. now owns 33,382 shares of the real estate investment trust’s stock valued at $511,000 after buying an additional 12,876 shares in the last quarter. Jennison Associates LLC grew its holdings in Independence Realty Trust by 2.4% in the 3rd quarter. Jennison Associates LLC now owns 3,187,637 shares of the real estate investment trust’s stock valued at $44,850,000 after buying an additional 75,700 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of Independence Realty Trust by 27.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 170,844 shares of the real estate investment trust’s stock valued at $2,404,000 after acquiring an additional 37,034 shares during the period. Sound Income Strategies LLC lifted its position in shares of Independence Realty Trust by 36.1% during the 4th quarter. Sound Income Strategies LLC now owns 4,850 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 1,287 shares during the period. Finally, Dark Forest Capital Management LP bought a new stake in shares of Independence Realty Trust during the 3rd quarter valued at $515,000. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Stock Down 1.2 %

Shares of IRT stock opened at $15.68 on Wednesday. Independence Realty Trust, Inc. has a twelve month low of $11.61 and a twelve month high of $18.77. The company has a market cap of $3.53 billion, a P/E ratio of -223.90, a P/E/G ratio of 2.34 and a beta of 1.07. The business has a fifty day simple moving average of $15.53 and a 200 day simple moving average of $14.69.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, March 29th will be given a dividend of $0.16 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.64 annualized dividend and a dividend yield of 4.08%. Independence Realty Trust’s dividend payout ratio is currently -914.16%.

Wall Street Analysts Forecast Growth

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