Daiwa Securities Group Inc. Reduces Holdings in Independence Realty Trust, Inc. (NYSE:IRT)

Daiwa Securities Group Inc. reduced its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 4.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,181 shares of the real estate investment trust’s stock after selling 3,422 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Independence Realty Trust were worth $1,043,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AE Wealth Management LLC increased its stake in Independence Realty Trust by 4.0% during the 3rd quarter. AE Wealth Management LLC now owns 58,990 shares of the real estate investment trust’s stock valued at $830,000 after purchasing an additional 2,271 shares in the last quarter. SG Americas Securities LLC increased its stake in Independence Realty Trust by 328.7% during the 3rd quarter. SG Americas Securities LLC now owns 111,910 shares of the real estate investment trust’s stock valued at $1,575,000 after purchasing an additional 85,804 shares in the last quarter. Oak Thistle LLC acquired a new position in Independence Realty Trust during the 3rd quarter valued at approximately $162,000. Handelsbanken Fonder AB increased its stake in Independence Realty Trust by 41.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 69,061 shares of the real estate investment trust’s stock valued at $972,000 after purchasing an additional 20,300 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. increased its stake in Independence Realty Trust by 2.7% during the 3rd quarter. Investment Research & Advisory Group Inc. now owns 39,109 shares of the real estate investment trust’s stock valued at $550,000 after purchasing an additional 1,011 shares in the last quarter. 88.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Independence Realty Trust Price Performance

NYSE:IRT opened at $15.75 on Thursday. The firm has a market capitalization of $3.54 billion, a P/E ratio of -225.00, a PEG ratio of 2.31 and a beta of 1.07. Independence Realty Trust, Inc. has a 1-year low of $11.61 and a 1-year high of $18.77. The company’s fifty day moving average price is $15.65 and its 200-day moving average price is $14.77.

Independence Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, March 29th were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.64 annualized dividend and a yield of 4.06%. Independence Realty Trust’s dividend payout ratio is presently -914.29%.

Independence Realty Trust 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.