Mackenzie Financial Corp Sells 4,298 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Mackenzie Financial Corp trimmed its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 22.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,508 shares of the real estate investment trust’s stock after selling 4,298 shares during the period. Mackenzie Financial Corp’s holdings in Independence Realty Trust were worth $222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Peregrine Capital Management LLC acquired a new position in shares of Independence Realty Trust during the 4th quarter worth about $7,728,000. Ranger Global Real Estate Advisors LLC raised its holdings in Independence Realty Trust by 15.0% in the 3rd quarter. Ranger Global Real Estate Advisors LLC now owns 3,539,156 shares of the real estate investment trust’s stock valued at $49,796,000 after acquiring an additional 461,572 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its position in Independence Realty Trust by 25.5% in the third quarter. Van Lanschot Kempen Investment Management N.V. now owns 853,747 shares of the real estate investment trust’s stock worth $12,012,000 after purchasing an additional 173,700 shares during the period. International Assets Investment Management LLC bought a new position in shares of Independence Realty Trust during the 4th quarter worth about $2,230,000. Finally, Hsbc Holdings PLC lifted its stake in Independence Realty Trust by 48.4% during the third quarter. Hsbc Holdings PLC now owns 351,518 shares of the real estate investment trust’s stock worth $4,929,000 after purchasing an additional 114,613 shares during the period. 88.25% of the stock is owned by institutional investors and hedge funds.

Independence Realty Trust Price Performance

Shares of NYSE:IRT opened at $15.86 on Monday. The company has a 50 day moving average of $15.66 and a 200-day moving average of $14.79. Independence Realty Trust, Inc. has a one year low of $11.61 and a one year high of $18.77. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of -528.49, a P/E/G ratio of 2.32 and a beta of 1.07.

Independence Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, March 29th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.04%. Independence Realty Trust’s payout ratio is -2,132.62%.

Analysts Set New Price Targets

Several brokerages recently commented on IRT. TheStreet lowered Independence Realty Trust from a “c” rating to a “d+” rating in a research note on Friday, March 1st. Barclays reduced their target price 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 increased their target price on shares of Independence Realty Trust from $15.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Wednesday, March 6th. Royal Bank of Canada boosted their price target on shares of Independence Realty Trust from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Independence Realty Trust in a report on Tuesday, January 30th. They issued a “buy” rating and a $18.00 target price on the stock. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.00.

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.