Slocum Gordon & Co LLP Sells 2,755 Shares of Independence Realty Trust, Inc. (NYSE:IRT)

Slocum Gordon & Co LLP lessened its stake in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 2.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 109,333 shares of the real estate investment trust’s stock after selling 2,755 shares during the period. Independence Realty Trust comprises approximately 1.8% of Slocum Gordon & Co LLP’s investment portfolio, making the stock its 17th biggest holding. Slocum Gordon & Co LLP’s holdings in Independence Realty Trust were worth $2,169,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of IRT. Hilton Capital Management LLC bought a new stake in Independence Realty Trust during the 3rd quarter valued at $7,573,000. SMART Wealth LLC purchased a new position in shares of Independence Realty Trust during the third quarter valued at $873,000. Barclays PLC raised its holdings in shares of Independence Realty Trust by 182.3% in the third quarter. Barclays PLC now owns 400,376 shares of the real estate investment trust’s stock valued at $8,208,000 after acquiring an additional 258,549 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Independence Realty Trust by 38.0% in the third quarter. JPMorgan Chase & Co. now owns 2,495,118 shares of the real estate investment trust’s stock worth $51,150,000 after acquiring an additional 686,630 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Independence Realty Trust during the 3rd quarter worth about $1,594,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Stock Up 0.7 %

NYSE:IRT opened at $19.85 on Friday. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.68 and a beta of 1.21. Independence Realty Trust, Inc. has a 52 week low of $14.07 and a 52 week high of $22.26. The firm has a 50 day moving average of $19.89 and a 200 day moving average of $20.02.

Independence Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.64 annualized dividend and a dividend yield of 3.22%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IRT shares. BMO Capital Markets raised shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $19.00 to $21.00 in a research report on Friday, November 15th. Barclays reduced their price objective on shares of Independence Realty Trust from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.86.

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.