24,421 Shares in Independence Realty Trust, Inc. (NYSE:IRT) Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC acquired a new position in Independence Realty Trust, Inc. (NYSE:IRT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 24,421 shares of the real estate investment trust’s stock, valued at approximately $374,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in Independence Realty Trust during the 4th quarter valued at $2,230,000. LDR Capital Management LLC boosted its stake in Independence Realty Trust by 10.9% during the 4th quarter. LDR Capital Management LLC now owns 75,283 shares of the real estate investment trust’s stock valued at $1,152,000 after purchasing an additional 7,420 shares in the last quarter. Allworth Financial LP boosted its stake in Independence Realty Trust by 37.0% during the 4th quarter. Allworth Financial LP now owns 4,237 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 1,145 shares in the last quarter. Fifth Third Bancorp boosted its stake in Independence Realty Trust by 83.9% during the 4th quarter. Fifth Third Bancorp now owns 2,593 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 1,183 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new position in Independence Realty Trust during the 4th quarter valued at $263,000. 88.25% of the stock is owned by institutional investors.

Independence Realty Trust Stock Down 0.7 %

IRT opened at $15.57 on Thursday. The firm has a market cap of $3.50 billion, a PE ratio of -222.33, a P/E/G ratio of 2.32 and a beta of 1.07. The business has a fifty day simple moving average of $15.55 and a 200-day simple moving average of $14.70. Independence Realty Trust, Inc. has a fifty-two week low of $11.61 and a fifty-two week high of $18.77.

Independence Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, March 29th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.11%. Independence Realty Trust’s payout ratio is currently -914.16%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IRT. Royal Bank of Canada increased their price target on Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. TheStreet lowered Independence Realty Trust from a “c” rating to a “d+” rating in a research note on Friday, March 1st. Barclays decreased their price target on Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, February 20th. JMP Securities raised their price objective on Independence Realty Trust from $15.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Wednesday, March 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Independence Realty Trust in a research note on Tuesday, January 30th. They set a “buy” rating and a $18.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.