Foundations Investment Advisors LLC Lowers Holdings in Independence Realty Trust, Inc. (NYSE:IRT)
Foundations Investment Advisors LLC trimmed its holdings in Independence Realty Trust, Inc. (NYSE:IRT – Free Report) by 6.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,375 shares of the real estate investment trust’s stock after selling 986 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Independence Realty Trust were worth $215,000 as of its most recent SEC filing. A number of other institutional investors have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in Independence Realty Trust by 6.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 131,254 shares of the real estate investment trust’s stock valued at $1,847,000 after acquiring an additional 8,082 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Independence Realty Trust by 4.0% during the third quarter. Daiwa Securities Group Inc. now owns 71,603 shares of the real estate investment trust’s stock valued at $1,007,000 after purchasing an additional 2,782 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Independence Realty Trust by 3.7% during the third quarter. Nisa Investment Advisors LLC now owns 121,465 shares of the real estate investment trust’s stock valued at $1,709,000 after purchasing an additional 4,301 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Independence Realty Trust by 13.9% in the third quarter. California Public Employees Retirement System now owns 417,793 shares of the real estate investment trust’s stock worth $5,878,000 after purchasing an additional 50,830 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Independence Realty Trust by 5.5% during the third quarter. Victory Capital Management Inc. now owns 119,773 shares of the real estate investment trust’s stock valued at $1,685,000 after buying an additional 6,224 shares during the last quarter. 88.25% of the stock is owned by hedge funds and other institutional investors. Wall Street Analyst Weigh In Several analysts have recently issued reports on IRT shares. Deutsche Bank Aktiengesellschaft began coverage on Independence Realty Trust in a report on Tuesday, January 30th. They set a “buy” rating and a $18.00 price objective on the stock. JMP Securities lifted their price target on 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 upped their price objective 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. TheStreet cut Independence Realty Trust from a “c” rating to a “d+” rating in a report on Friday, March 1st. Finally, Barclays decreased their price target on Independence Realty Trust from $22.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.00. Get Our Latest Analysis on IRT Independence Realty Trust Price Performance Shares of NYSE:IRT opened at $17.11 on Monday. The firm has a market capitalization of $3.85 billion, a PE ratio of -570.14, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The business has a 50 day simple moving average of $16.05 and a two-hundred day simple moving average of $15.16. Independence Realty Trust, Inc. has a 1 year low of $11.61 and a 1 year high of $18.77. Independence Realty Trust Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, March 29th were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.64 dividend on an annualized basis and a yield of 3.74%. Independence Realty Trust’s payout ratio is -2,132.62%. Independence Realty Trust Company Profile (Free Report) 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.
