Thrivent Financial for Lutherans Sells 164,159 Shares of Independence Realty Trust, Inc. $IRT

Thrivent Financial for Lutherans trimmed its position in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 45.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 196,056 shares of the real estate investment trust’s stock after selling 164,159 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Independence Realty Trust worth $3,213,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. First Horizon Corp acquired a new stake in Independence Realty Trust in the third quarter valued at approximately $27,000. Hantz Financial Services Inc. lifted its holdings in shares of Independence Realty Trust by 551.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,869 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,582 shares during the last quarter. Financial Gravity Companies Inc. acquired a new stake in shares of Independence Realty Trust in the 2nd quarter worth $54,000. Caldwell Trust Co purchased a new position in Independence Realty Trust during the 2nd quarter worth $61,000. Finally, Global Retirement Partners LLC increased its position in Independence Realty Trust by 30.8% during the 3rd quarter. Global Retirement Partners LLC now owns 4,245 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Shares of Independence Realty Trust stock opened at $16.62 on Monday. The stock has a market cap of $3.97 billion, a PE ratio of 166.18, a price-to-earnings-growth ratio of 2.02 and a beta of 1.00. The firm has a fifty day moving average price of $17.02 and a 200 day moving average price of $16.91. Independence Realty Trust, Inc. has a 1 year low of $15.06 and a 1 year high of $21.86.

Independence Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 23rd. Investors of record on Wednesday, December 31st were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Wednesday, December 31st. Independence Realty Trust’s dividend payout ratio (DPR) is 680.00%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. KeyCorp dropped their price target on Independence Realty Trust from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, December 4th. Colliers Securities downgraded shares of Independence Realty Trust from a “moderate buy” rating to a “hold” rating in a research report on Thursday, December 4th. Weiss Ratings restated a “hold (c)” rating on shares of Independence Realty Trust in a research note on Monday, December 29th. UBS Group lifted their price objective on shares of Independence Realty Trust from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Finally, Barclays upped their target price on Independence Realty Trust from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.35.

About Independence Realty Trust

Independence Realty Trust is a self-administered equity real estate investment trust that acquires, redevelops and manages multi-family communities. The company focuses on workforce housing, targeting Class A and B garden-style apartments in suburban and urban infill locations. Its core activities include sourcing value-add acquisitions, overseeing property renovations and delivering in-house property management services to optimize rental income and occupancy levels.

Headquartered in Wayne, Pennsylvania, Independence Realty Trust maintains a geographically diverse portfolio across several high-growth U.S.